Multifamily Property with
For Sale
$3,170,000
Units 6-38 Kandy Lane, Lake Charles, LA 70605
Mixed multifamily improvements combine townhome, triplex, and duplex residences with furnished kitchens and in-unit laundry.
Property Size41,987 SF
Price / SF$75.50
Days on Market31
Property Features for Units 6-38 Kandy Lane
General Information
Standard status
Active
Size
41,987 SF
Building Details
Year Built
2019
Listing Agency:
Mary Kay Hopkins, LLC
(337) 515-5137
Listed By:
Mary Kay Hopkins · License #0000034059
Source:
Athomerealtyla
Added: Aug 2
Changed: Aug 31
Last Checked: Aug 31 at 7:28PM
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 Mary Kay Hopkins, LLC
Investment Insights
Based on property information with market context.
This 25-unit multifamily property occupies a 3.72-acre site on Kandy Lane in Lake Charles. The improvements include ten two-story duplex townhomes, a one-story triplex, and a one-story duplex. All residences feature sheetrock interiors, electric HVAC, kitchens equipped with a range/oven, vent hood, and refrigerator, plus a washer and dryer. Smoke alarms are installed throughout, with fiberglass insulation in the walls and blown-in fiberglass in the attics.
Completed in 2019, the townhomes provide 30,400 SqFt of combined living area across 1,520-SqFt units with three bedrooms, two and one-half baths, wood plank and ceramic tile flooring, microwaves, ceiling fans, rear patios, and front canopies. The triplex was built in approximately 1975 and remodeled in 2017, offering three one-bedroom, one-bath units, a three-car carport, porches, and rear patio area. Also built and renovated in approximately 1975 and 2017 respectively, the duplex includes a three-bedroom, two-bath unit and a one-bedroom, one-bath unit, along with porches, a wood deck, and a garage.
Completed in 2019, the townhomes provide 30,400 SqFt of combined living area across 1,520-SqFt units with three bedrooms, two and one-half baths, wood plank and ceramic tile flooring, microwaves, ceiling fans, rear patios, and front canopies. The triplex was built in approximately 1975 and remodeled in 2017, offering three one-bedroom, one-bath units, a three-car carport, porches, and rear patio area. Also built and renovated in approximately 1975 and 2017 respectively, the duplex includes a three-bedroom, two-bath unit and a one-bedroom, one-bath unit, along with porches, a wood deck, and a garage.
Key Highlights
- 25 units across ten duplex townhomes, one triplex, and one duplex
- 3.72+-acre site with 41,987 SqFt of property size
- Townhomes completed in 2019 with 30,400 SqFt of combined living area
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
$277,303
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
8.75%
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%
$5,546,060
$5.5M
Cap Rate 7%
$3,961,471
$4.0M
Cap Rate 9%
$3,081,144
$3.1M
Market Conditions
NOI Build-Up for 41,987 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
$428.3K $10.20/SF
− Vacancy
−$32.1K −$0.77/SF
EGI
$396.1K $9.44/SF
− OpEx
−$118.8K −$2.83/SF
NOI
$277.3K $6.60/SF
Area
Calcasieu County, LA
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$5,546,060
Cap Rate 7%
$3,961,471
Cap Rate 9%
$3,081,144
Alternative Uses
Best Use
Multifamily LT 5
$3.96M
$3.47M – $4.62M
NOI $277,303 @ 7.0% cap · market cap 8.75%
Second Best
Apartment 5plus
$3.51M
$3.07M – $4.09M
NOI $245,357 @ 7.0% cap · market cap 7.74%
Theoretical Best
Specialty Retail
$9.05M
$7.92M – $10.56M
NOI $633,521 @ 7.0% cap · market cap 19.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 70605, LA
39,903
Population
17,926
Households
2.2
Avg Household Size
38
Median Age
42%
College-Educated
97%
High-School Grad
43.0 sq mi
ZIP Area
928
Density / Sq Mi
$88,337
Median Household Income
$46,173
Median Earnings
$1,348
Median Rent
$293,800
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?
Multifamily property - Mixed multifamily improvements combine townhome, triplex, and duplex residences with furnished kitchens and in-unit laundry.
Where is this multifamily property located?
The property is located at Units 6-38 Kandy Lane Lake Charles, LA.
What is the asking price?
The asking price for this property is $3,170,000.
What are key features of this property?
This property features: 25 units across ten duplex townhomes, one triplex, and one duplex; 3.72+-acre site with 41,987 SqFt of property size; Townhomes completed in 2019 with 30,400 SqFt of combined living area
