Renovated Apartment
For Sale
$1,500,000
1602 Moss St, Lake Charles, LA 70601
Two-story multifamily property with updated building systems, varied unit layouts, onsite laundry, and dedicated parking.
Property Size23,180 SF
Price / SF$64.71
Days on Market13
Property Features for 1602 Moss St
General Information
Standard status
Active
Size
23,180 SF
Total Parking Spaces
26
Property subtype
Multifamily
Zoning
N
Units
Unit Mix
14 x 2BR, 5 x 1BR, 1 x 3BR, 1 x efficiency
Multifamily Units
21
Amenities
onsite laundry
Building Details
Stories
2
Listing Agency:
Century 21 Bessette Flavin
Listed By:
JoAnn Fisette · License #995685685
(337) 478-2185
Source:
Lacdb.resimplifi
Added: Sep 1
Changed: Sep 12
Last Checked: Sep 13 at 4:02AM
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 Century 21 Bessette Flavin
Investment Insights
Based on property information with market context.
This 21-unit apartment building is arranged across two stories and includes a mix of 14 two-bedroom units, 5 one-bedroom units, 1 three-bedroom unit, and 1 efficiency. Property improvements include Hardie siding, exterior paint, windows, doors, HVAC systems, and renovations to select units. A roof replacement was completed in 2020.
The complex includes an onsite laundry facility and 26 parking spaces. It is located at 1602 Moss Street in Lake Charles, Louisiana, within the Downtown Lake Charles area.
The complex includes an onsite laundry facility and 26 parking spaces. It is located at 1602 Moss Street in Lake Charles, Louisiana, within the Downtown Lake Charles area.
Key Highlights
- 21‑unit, two‑story apartment complex
- Unit mix includes 14 two‑bedroom, 5 one‑bedroom, 1 three‑bedroom, and 1 efficiency unit
- Roof installed in 2020
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
$135,456
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
9.03%
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%
$2,709,120
$2.7M
Cap Rate 7%
$1,935,086
$1.9M
Cap Rate 9%
$1,505,067
$1.5M
Market Conditions
NOI Build-Up for 23,180 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
$264.3K $11.40/SF
− Vacancy
−$18.0K −$0.78/SF
EGI
$246.3K $10.62/SF
− OpEx
−$110.8K −$4.78/SF
NOI
$135.5K $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%
$2,709,120
Cap Rate 7%
$1,935,086
Cap Rate 9%
$1,505,067
Alternative Uses
Best Use
Apartment 5plus
$1.94M
$1.69M – $2.26M
NOI $135,456 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.00M
$4.37M – $5.83M
NOI $349,751 @ 7.0% cap · market cap 23.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
21
Residential units
Location Intelligence
Trade Area within ½ mile
1,141
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story multifamily property with updated building systems, varied unit layouts, onsite laundry, and dedicated parking.
Where is this apartment building located?
The property is located at 1602 Moss St Lake Charles, LA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 21‑unit, two‑story apartment complex; Unit mix includes 14 two‑bedroom, 5 one‑bedroom, 1 three‑bedroom, and 1 efficiency unit; Roof installed in 2020
