$4,500,000 Multifamily for Sale — 734 W 68th St, Shreveport, LA 71106, USA

Summary

This is a multifamily property for sale at 734 W 68th St, Shreveport, LA 71106, USA, listed at $4,500,000. The property has 196 units, 133,868,196 square feet, built in 19802021. Financials show net operating income of $1,189,987, a 26.4% cap rate, gross income of $2,297,904 based on seller figures.

Key facts

• Asking price: $4,500,000
• Property type: Multifamily
• Cap rate: 26.4%
• NOI: $1,189,987
• Gross income: $2,297,904
• Occupancy: 0%
• Price / unit: $22,959
• Expense ratio: 44.3%
• Units: 196
• Building SF: 133,868,196
• Lot (acres): 12.07
• Year built: 19802021
• Zoning: C-2, Corridor Commercial

Description

West 68th Street Apartments is a 196-unit, one hundred percent vacant garden apartment community in south Shreveport. 49 two-story garden buildings of approximately four units each (52 as originally developed; three were demolished), wood-frame construction on slab, with pitched shingle roofs and exterior stair access. Plus a standalone laundry facility and a leasing and management office. Site clearing, perimeter securing and interior demolition are complete and convey with the property. The business plan is a full renovation on a documented $7,000,000 contractor scope. 100% two-bedroom, one-bath units averaging 683 SF. Multi-parcel assemblage recorded at 724, 728 and 734 West 68th Street. Formerly known as Woodlawn Terrace Apartments, later Silver Lake Apartments.

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