Eight-Unit Apartment
For Sale
$325,000
2906 2nd Ave Ave, Lake Charles, LA 70601
Eight fully occupied 1-bedroom, 1-bath units near Memorial Hospital, offering steady rental income for investors.
Property Size5,000 SF
Price / SF$65
Days on Market130
Property Features for 2906 2nd Ave Ave
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
8
Building Details
Year Built
1960
Listing Agency:
Castle Real Estate
Listed By:
Tim Castle · License #50293
(337) 540-4488
Source:
Athomerealtyla
Added: Jun 22
Changed: Oct 25
Last Checked: Oct 7 at 3:51PM
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 Castle Real Estate
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Investment Insights
Based on property information with market context.
This eight-unit apartment building consists of eight 1-bedroom, 1-bath units, currently fully occupied. The property is described as easy to maintain and is presented as an income-producing multifamily asset with an established rental history.
Located in central Lake Charles, the building is noted as being next to Memorial Hospital, placing it near healthcare and other day-to-day demand drivers. The offering is positioned around its central placement and tenant appeal tied to nearby employment and services.
For investors or owner-operators seeking a small, straightforward multifamily configuration, this property provides immediate occupancy with all units in the same 1-bedroom, 1-bath mix. Its fully occupied status and consistent rental performance are highlighted as key factors for buyers looking for a turnkey income approach rather than a value-add conversion. The building’s unit count and repeatable unit type can also simplify management compared with more varied floorplans.
Located in central Lake Charles, the building is noted as being next to Memorial Hospital, placing it near healthcare and other day-to-day demand drivers. The offering is positioned around its central placement and tenant appeal tied to nearby employment and services.
For investors or owner-operators seeking a small, straightforward multifamily configuration, this property provides immediate occupancy with all units in the same 1-bedroom, 1-bath mix. Its fully occupied status and consistent rental performance are highlighted as key factors for buyers looking for a turnkey income approach rather than a value-add conversion. The building’s unit count and repeatable unit type can also simplify management compared with more varied floorplans.
Key Highlights
- 8‑unit apartment building built in 1960 in Central Lake Charles
- All units are 1 bedroom, 1 bathroom (8 total units)
- Property is fully occupied with steady rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,218
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$584,360
$584.4K
Cap Rate 7%
$417,400
$417.4K
Cap Rate 9%
$324,644
$324.6K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$57.0K $11.40/SF
− Vacancy
−$3.9K −$0.78/SF
EGI
$53.1K $10.62/SF
− OpEx
−$23.9K −$4.78/SF
NOI
$29.2K $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%
$584,360
Cap Rate 7%
$417,400
Cap Rate 9%
$324,644
Alternative Uses
Best Use
Apartment 5plus
$417.4K
$365.2K – $487.0K
NOI $29,218 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.08M
$943.0K – $1.26M
NOI $75,443 @ 7.0% cap · market cap 23.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
784
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight fully occupied 1-bedroom, 1-bath units near Memorial Hospital, offering steady rental income for investors.
Where is this apartment building located?
The property is located at 2906 2nd Ave Ave Lake Charles, LA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 8‑unit apartment building built in 1960 in Central Lake Charles; All units are 1 bedroom, 1 bathroom (8 total units); Property is fully occupied with steady rental income
