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: 2/26/2024

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

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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


Photograph of Listing Agent

Jeremy P Harson

NAI/Latter & Blum Commmercial Lafayette Lafayette, LA 70508
LACDB Member
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