25-Unit Apartment
For Sale
$3,260,000
6 Kandy Ln, Lake Charles, LA 70605
Recently built apartment property with convenient access to major roads.
Property Size41,987 SF
Price / SF$77.64
Days on Market403
Property Features for 6 Kandy Ln
General Information
Standard status
Active
Size
41,987 SF
Total Parking Spaces
76
Property subtype
Multifamily
Amenities
Water
76 Parking Spaces
Building Details
Year Built
2019
Tenancy
Multiple Tenants
Listing Agency:
NVST Real Estate Solutions
Listed By:
Blake Soto · License #BROK.995711584
(337) 764-6556
Source:
Lacdb.resimplifi
Added: Jul 28, 2025
Changed: Aug 30
Last Checked: Sep 2 at 1:55PM
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 NVST Real Estate Solutions
Investment Insights
Based on property information with market context.
This apartment property contains 25 residential units across a 41,987-square-foot building on 3.72 acres. Constructed in 2019, the asset is positioned as an income-producing residential property with a site area that may support additional townhome expansion.
The property is located at 6 Kandy Ln in Lake Charles, near W. Prien Lake Road and Sale Road. Prien Lake Park is nearby, and I-210 can be reached via Cove Lane, providing regional roadway connectivity.
The property is located at 6 Kandy Ln in Lake Charles, near W. Prien Lake Road and Sale Road. Prien Lake Park is nearby, and I-210 can be reached via Cove Lane, providing regional roadway connectivity.
Key Highlights
- 25 residential units
- 41,987‑square‑foot apartment building
- 3.72‑acre site
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
$245,357
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
7.53%
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%
$4,907,140
$4.9M
Cap Rate 7%
$3,505,100
$3.5M
Cap Rate 9%
$2,726,189
$2.7M
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
$478.7K $11.40/SF
− Vacancy
−$32.5K −$0.78/SF
EGI
$446.1K $10.62/SF
− OpEx
−$200.7K −$4.78/SF
NOI
$245.4K $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 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%
$4,907,140
Cap Rate 7%
$3,505,100
Cap Rate 9%
$2,726,189
Alternative Uses
Best Use
Apartment 5plus
$3.51M
$3.07M – $4.09M
NOI $245,357 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.05M
$7.92M – $10.56M
NOI $633,521 @ 7.0% cap · market cap 19.43%
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?
Apartment building - Recently built apartment property with convenient access to major roads.
Where is this apartment building located?
The property is located at 6 Kandy Ln Lake Charles, LA.
What is the asking price?
The asking price for this property is $3,260,000.
What are key features of this property?
This property features: 25 residential units; 41,987‑square‑foot apartment building; 3.72‑acre site
