Updated Apartment
For Sale
$550,000
2304 Fasske St, Sulphur, LA 70663
Multifamily property with major mechanical, electrical, roofing, and exterior improvements.
Property Size7,600 SF
Price / SF$72.37
Days on Market99
Property Features for 2304 Fasske St
General Information
Standard status
Active
Size
7,600 SF
Additional Details
Multifamily Units
10
Building Details
Year Built
1982
Listing Agency:
One Way Realty LLC
Listed By:
Krystal Steward · License #995711001
(337) 302-4258
Source:
Athomerealtyla
Added: Jul 10
Changed: Oct 9
Last Checked: Oct 7 at 5:48PM
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 One Way Realty LLC
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Investment Insights
Based on property information with market context.
This 7,600-square-foot apartment property was built in 1982 and is located at 2304 Fasske St in Sulphur, Louisiana. The building carries MR zoning and has received substantial updates, including replacement of all exterior A/C condensers, updated electrical service from Federal Pacific to GE, a roof installed in 2020, and a wood fence added in 2024. Eight interior A/C air handlers have also been replaced.
Eight units have been refreshed with new flooring, paint, selected cabinet work, and ceiling paint and texture. The remaining units are occupied by long-term tenants who maintain them well. Average occupancy has been 90% since the 2021 purchase. Additional space on the north end may accommodate two more units, a washroom, or a storage building.
Eight units have been refreshed with new flooring, paint, selected cabinet work, and ceiling paint and texture. The remaining units are occupied by long-term tenants who maintain them well. Average occupancy has been 90% since the 2021 purchase. Additional space on the north end may accommodate two more units, a washroom, or a storage building.
Key Highlights
- 7,600‑square‑foot apartment property in Sulphur, LA
- MR zoning
- All exterior A/C condensers replaced
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,412
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$888,240
$888.2K
Cap Rate 7%
$634,457
$634.5K
Cap Rate 9%
$493,467
$493.5K
Market Conditions
NOI Build-Up for 7,600 SF
Gross rent
$86.6K $11.40/SF
− Vacancy
−$5.9K −$0.78/SF
EGI
$80.7K $10.62/SF
− OpEx
−$36.3K −$4.78/SF
NOI
$44.4K $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 Rate 5%
$888,240
Cap Rate 7%
$634,457
Cap Rate 9%
$493,467
Alternative Uses
Best Use
Apartment 5plus
$634.5K
$555.2K – $740.2K
NOI $44,412 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.64M
$1.43M – $1.91M
NOI $114,673 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 70663, LA
29,325
Population
12,767
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
88%
High-School Grad
97.8 sq mi
ZIP Area
300
Density / Sq Mi
$59,444
Median Household Income
$37,587
Median Earnings
$914
Median Rent
$174,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with major mechanical, electrical, roofing, and exterior improvements.
Where is this apartment building located?
The property is located at 2304 Fasske St Sulphur, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 7,600‑square‑foot apartment property in Sulphur, LA; MR zoning; All exterior A/C condensers replaced
