Current Use by Public Records
- Oak Meadows / Apartment Building
Property Details for 1901 Centenary Blvd
- Year built
- 1939
- Lot size
- 7.75 lot acres
- Property type
- Apartment buildings
Description
This bank-owned foreclosure, Oakwood Meadows, presents a compelling value-add investment opportunity in Shreveport, Louisiana. The property comprises 119 units within a 14-building complex, totaling 87,108 square feet on a 7.75-acre lot. Built in 1939 and renovated in 2003, the property is currently vacant with an occupancy date of September 19, 2024. The asking price is $1,775,000, translating to $14,916 per unit and $20.38 per square foot. The property's current NOI is $0, however, a pro-forma NOI of $508,831 projects a 28.67% cap rate. Significant capital improvements are needed, estimated at approximately $40,000 per unit. The property features 249 parking spaces and is zoned RS-2. This fee-simple ownership opportunity offers substantial upside potential for a savvy investor. The land value alone is estimated at $1,250,000. The property is located at 1901 Centenary Blvd, Shreveport, LA 71101. This is a rare chance to acquire a large multifamily asset in a growing market, requiring substantial renovation but offering significant returns upon completion.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Shreveport
- County
- Caddo Parish
- State
- Louisiana
- Longitude
- -93.731
- Latitude
- 32.4935
