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Address Not Disclosed Thibodaux, LA

For Sale
$2,575,000

Portfolio of 89 units in Thibodaux, Hammond, and Bogalusa, Louisiana.

Property size:
111,353 SF

Property Features for Address Not Disclosed

General Information

Size
111,353 SF

Source: Andrew Agee Agent Andrew Agee

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Louisiana Affordable Housing Portfolio

This portfolio comprises 89 units across three properties located in Thibodaux, Hammond, and Bogalusa, Louisiana. Specifically, there are 32 units in Thibodaux, 25 in Hammond, and 32 in Bogalusa. Built between 2006 and 2008, these properties present an opportunity to enter the affordable housing market in Louisiana or expand an existing portfolio. The properties are offered at a price significantly below replacement cost. The portfolio consists of single-family and duplex-style homes. The current average effective rents are conservative compared to similar properties, suggesting potential for increased revenue under effective management. There is potential to increase revenue by nearly 10% overall within one year. The properties have community amenities including a computer center, on-site maintenance, and playgrounds. The occupancy rate is 92.4%. The rent type is affordable. The total property size is 111,353 square feet. Thibodaux is the parish seat for Lafourche Parish, located just over an hour from downtown New Orleans and home to Nicholls State University. Bogalusa is located beside the Louisiana-Mississippi state line along the Pearl River. Hammond is the parish seat for Tangipahoa Parish and is considered the commercial hub for the parish. The intended hold period is 5 years.
Location Intelligence

Current Use by Public Records

Duplexes

Map

City
Thibodaux
County
Lafourche
State
Louisiana
Longitude
-90.822871
Latitude
29.7957633

FAQs

What type of property is this?
Apartment building - Portfolio of 89 units in Thibodaux, Hammond, and Bogalusa, Louisiana.
Where is this apartment building located?
The property is located at Address Not Disclosed Thibodaux, LA.
What is the asking price?
The asking price for this property is $2,575,000.
What are key features of this property?
This property features: - Significant potential to increase revenue by raising rents.; - Opportunity to acquire 89 units across three properties.; - Purchase price is significantly less than replacement cost.
More about this property
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