Six-Unit Apartment
For Sale
$255,000
1019 Common St, Lake Charles, LA 70601
Two-story main building with shared upstairs laundry, rear parking, and a detached residence.
Property Size3,000 SF
Price / SF$85
Days on Market25
Property Features for 1019 Common St
General Information
Standard status
Active
Size
3,000 SF
Building Details
Year Built
1960
Listing Agency:
Real Broker, LLC
(337) 526-5737
Listed By:
Danette McManus · License #995684394
Source:
Athomerealtyla
Added: Aug 8
Changed: Aug 29
Last Checked: Aug 30 at 8:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker, LLC
Investment Insights
Based on property information with market context.
Located at 1019 Common St in Lake Charles, this 3,000-square-foot apartment property includes a two-story main structure with five one-bedroom, one-bath units. A separate rear residence adds another one-bedroom, one-bath unit, creating six rentable units across the property.
Tenant amenities include a centrally located upstairs laundry area and a rear parking area. The upper level also contains an additional room that can serve as office or storage space. The exterior has received recent paint, with further interior and exterior improvements completed over the past several years.
The property is situated in the Garden District near downtown and has a history of long-term rental use. Units 0, 1, 3, 4, 5, and the rear residence are identified as currently leased.
Tenant amenities include a centrally located upstairs laundry area and a rear parking area. The upper level also contains an additional room that can serve as office or storage space. The exterior has received recent paint, with further interior and exterior improvements completed over the past several years.
The property is situated in the Garden District near downtown and has a history of long-term rental use. Units 0, 1, 3, 4, 5, and the rear residence are identified as currently leased.
Key Highlights
- Six rentable units: five in the main structure plus one detached rear residence
- Five one‑bedroom, one‑bath units in the two‑story main building
- Detached one‑bedroom, one‑bath residence at 1019 ½ Common St
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,531
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$350,620
$350.6K
Cap Rate 7%
$250,443
$250.4K
Cap Rate 9%
$194,789
$194.8K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.2K $11.40/SF
− Vacancy
−$2.3K −$0.78/SF
EGI
$31.9K $10.62/SF
− OpEx
−$14.3K −$4.78/SF
NOI
$17.5K $5.84/SF
Area
Calcasieu County, LA
Vacancy
6.80%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$350,620
Cap Rate 7%
$250,443
Cap Rate 9%
$194,789
Alternative Uses
Best Use
Apartment 5plus
$250.4K
$219.1K – $292.2K
NOI $17,531 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$646.7K
$565.8K – $754.4K
NOI $45,266 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,349
Businesses Nearby
Explore this area
Business Placement
Demographics for 70601, LA
34,571
Population
16,811
Households
2.1
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
16.1 sq mi
ZIP Area
2,147
Density / Sq Mi
$49,545
Median Household Income
$34,044
Median Earnings
$938
Median Rent
$164,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story main building with shared upstairs laundry, rear parking, and a detached residence.
Where is this apartment building located?
The property is located at 1019 Common St Lake Charles, LA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Six rentable units: five in the main structure plus one detached rear residence; Five one‑bedroom, one‑bath units in the two‑story main building; Detached one‑bedroom, one‑bath residence at 1019 ½ Common St
