400 Raymond Street
Multi-Family
for Sale
| Catylist Listing ID: |
30802292 |
| Property Subtypes: |
Mobile Home Park
|
| Number of Units: |
See Agent |
| Building Size (RSF): |
1 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
2.50 Acres
|
| Sale Price: |
$995,000 |
| In Opportunity Zone? |
Yes |
| Sale Terms: |
Other |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/9/2024 |
Overview / Comments
Pecan Acres Mobile Home Park is located in the heart of Opelousas and sits on 2.5 acres with city water, sewer and concrete roads. The park has undergone extensive infrastructure improvements over the past year and a half with new home pads, new electrical overhead lines, new poles, meters and panels, new
perimeter fence around the park with all roads recently resurfaced. The park has 29 total lots consisting of 19 park owned homes with rents ranging from $550-$850/month with a mix of 2 and 3 Bedroom homes. Out of the 10 remaining lots, 8 are currently leased at $200/month with 2 vacant lots. Lot rents
are slightly below market and can be increased quickly. Current rental income is $14,600/month and the park has significant value add potential. Tenants pay all utilities. Priced at an 13% CAP rate.
|
Additional Details
| Nearest MSA: |
Opelousas |
| County: |
Saint Landry |
| Tax ID/APN: |
0100541590 |
| Area Description: |
Traveling East on Hwy 190, take Right onto S Bullard, Left onto W Grolee Street, Right onto Raymond Street. Park will be on your Right |
| Parking Type: |
Surface |
| Heat Type: |
Electricity |
| Heat Source: |
Central |
| Air Conditioning: |
Engineered System |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
See Documents |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,631 |
24,033 |
27,398 |
| Median Age: |
30.91 |
35.39 |
35.49 |
| Households: |
2,819 |
9,211 |
10,429 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Louisiana Commercial Database, LLC nor
Moody's assume any liability for errors or omissions.
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