6970 Highway 1 - Apartments FOR SALE


Mansura, LA 71350
$1,995,000 USD
225-297-7445
6970 Highway 1, Mansura, LA for Sale
$1,995,000 USD
Apartments - FOR SALE
1/17
null | Request Cap Rate

6970 Highway 1
Mansura, LA 71350


HIGHLIGHTS

  • Built in 1995/1998 with an attractive unit mix of 1BR and 2BR units with 83% of the units being 2BR
  • Limited market rate competition in the area
  • Located across the street from the Paragon Casino & Resort which employs over 1,780 people
  • New roof in 2017
  • Flood Zone X
  • Well-maintained, stabilized property offering the next owner a turn-key investment with value-add potential

OVERVIEW

Pecan Creek Apartments is a 24-unit, garden-style apartment community located at 6970 LA-1, Mansura, LA. Ideally positioned directly across from the Paragon Casino Resort and Tamahka Trails Golf Club, the property offers residents unmatched access to the area’s premier entertainment and recreational amenities. As the only market-rate multifamily property of its size in the area, Pecan Creek presents a unique opportunity in a market with limited competition and strong rental demand. Built in 1995 and 1998, Pecan Creek features a desirable unit mix designed to appeal to a broad tenant base, consisting of one-bedroom and two-bedroom units with sizes ranging from 690 to 955 square feet. The average unit size of 852 square feet provides spacious layouts that outperform typical market offerings. Each unit includes washer & dryer connections. All units are individually metered for electricity, while water and sewer are master-metered and currently included in rent. The roofs were replaced in 2017, limiting immediate capital needs, and the property’s location in Flood Zone X eliminates flood insurance requirements, boosting operational margins. With its desirable location, diverse unit mix, low competition, and clear value-add potential, Pecan Creek Apartments represents a compelling opportunity for investors seeking a stable asset with upside through rent growth and long-term appreciation. The property’s manageable size and strategic positioning make it well-suited for any Investor. Contact agents to receive additional information and for any questions.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$98 USD /SF

# OF UNITS

24

PRICE/UNIT

$83,125

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pecan Creek Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1995

PARKING SPACES

55

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

-

APN/PARCEL ID

003-30366352

ASK ABOUT THIS PROPERTY

Chris GremillionNAI Latter & BlumMore Info
225-297-7445

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Chris GremillionNAI Latter & BlumMore Info
225-297-7445

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.