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3201 2nd Ave
Lake Charles, LA 70601
Madrid Apartments · Multifamily Property For Sale
·
62 Units
INVESTMENT HIGHLIGHTS
- Proximity to Key Amenities – The property is strategically located just minutes from key transportation routes, including Interstate 10 and U.S. Hwy
- Urban Development and Infrastructure Investment – The local government of Lake Charles has been actively investing in the region’s infrastructure
- Limited Housing Supply – The demand for rental properties is outpacing the supply in the area.
- It’s also within close proximity to business hubs like the Lake Charles Port and Westlake Chemical.
- Employment Opportunities – The Lake Charles area is home to several large employers, including Citgo Petroleum, Cheniere Energy, and Sasol America
- Steady Rent Growth – Due to strong demand and low supply, rents have been increasing steadily over the past few years.
EXECUTIVE SUMMARY
Broker of Record
Donnie Jarreau
License # BROK.995704351-CORP (LA)
Matthews Real Estate Investment Services, Inc
16173 Perkins Road Baton Rouge, LA 70810
(866) 889-0550
Donnie Jarreau
License # BROK.995704351-CORP (LA)
Matthews Real Estate Investment Services, Inc
16173 Perkins Road Baton Rouge, LA 70810
(866) 889-0550
PROPERTY FACTS
| Price Per Unit | $99,843 CAD | Apartment Style | Garden |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 10.01% | Lot Size | 2.98 AC |
| Gross Rent Multiplier | 7 | Building Size | 56,400 SF |
| No. Units | 62 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1964/1980 |
| Zoning | Business | ||
| Price Per Unit | $99,843 CAD |
| Sale Type | Investment |
| Cap Rate | 10.01% |
| Gross Rent Multiplier | 7 |
| No. Units | 62 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.98 AC |
| Building Size | 56,400 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/1980 |
| Zoning | Business |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 26 | $1,190 CAD | 700 |
| 2+1 | 21 | $1,305 CAD | 900 |
| 2+1.5 | 12 | $1,542 CAD | 1,250 |
| 2+2 | 2 | $1,169 CAD | 850 |
| 3+2 | 1 | $1,926 CAD | 1,400 |
PROPERTY TAXES
| Parcel Number | 00808830 | Improvements Assessment | $58,354 CAD |
| Land Assessment | $35,353 CAD | Total Assessment | $93,707 CAD |
PROPERTY TAXES
Parcel Number
00808830
Land Assessment
$35,353 CAD
Improvements Assessment
$58,354 CAD
Total Assessment
$93,707 CAD
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