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    3069 Old Town Rd Lake Charles, LA 70615

    Sponsored
    For Sale
    $215,000

    Prime Lake Charles multi-family land, high potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional investment opportunity presents a unique chance to acquire a 0.9-acre commercial property located at 3069 Old Town Road, Lake Charles, Louisiana, 70615. Currently featuring three residential units, this property offers significant upside potential. The property includes a 2-bedroom, 2-bathroom unit, another 2-bedroom, 1-bathroom unit, and a third 2-bedroom, 1-bathroom unit. Additionally, a fourth, older cottage structure is present on the site, presenting a potential for renovation and additional rental income. Two of the existing units are currently vacant, allowing for immediate inspection and customization. The property has undergone recent improvements, including new roofs, following the 2020 storms, demonstrating its resilience and strong foundation. The asking price of $215,000 is significantly below a recent appraisal, representing a compelling value proposition for investors. This property's history of successful rentals and its prime location in Lake Charles, Calcasieu Parish, make it an attractive investment with a high potential for strong returns. The property's size and existing structures provide flexibility for various development scenarios, catering to both short-term and long-term investment strategies. This is a rare opportunity to acquire a well-maintained, income-generating property in a desirable location at a remarkably competitive price.

    Property Features for 3069 Old Town Rd

    General Information

    Property type
    Land

    HighLights

    • 0.9‑acre commercial property at 3069 Old Town Road, Lake Charles, LA 70615.
    • Features three 2‑bedroom units (two 1‑bath, one 2‑bath) plus a fourth, older cottage.
    • Two units are currently vacant.
    • Recent roof replacements post‑2020 storms.
    • Asking price: $215,000 (below recent appraisal).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Clothing Store Pharmacy Auto Repair Shop Wholesale Shop Skin Care Clinic Hotel & Motel Kitchen & Bath Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Charles
    County
    Calcasieu Parish
    State
    Louisiana
    Longitude
    -93.1697102
    Latitude
    30.2766904

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    FAQs

    What type of property is this?
    Land - Prime Lake Charles multi-family land, high potential.
    Where is this land located?
    The property is located at 3069 Old Town Rd Lake Charles, LA.
    What is the asking price?
    The asking price for this property is $215,000.
    What are key features of this property?
    This property features: 0.9-acre commercial property at 3069 Old Town Road, Lake Charles, LA 70615.; Features three 2-bedroom units (two 1-bath, one 2-bath) plus a fourth, older cottage.; Two units are currently vacant.
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    Lake Charles, LA 70615
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3069 Old Town Rd Lake Charles, LA 70615
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