400 Raymond Street, Opelousas, LA 70570
$950,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
108,900
Status:
Pending
Current Price:
$950,000
List Date:
5/01/2024
Last Modified:
5/06/2024
Description
Price at 13% CAP RATE! Pecan Acres Mobile Home Park is located in the heart of Opelousas and sits on 2.5 acres with city water, sewer and concrete roads. The park has undergone extensive infrastructure improvements over the past year and a half with new home pads, new electrical overhead lines, new poles, meters and panels, new
perimeter fence around the park with all roads recently resurfaced. The park has 29 total lots consisting of 19 park owned homes with rents ranging from $550-$850/month with a mix of 2 and 3 Bedroom homes. Out of the 10 remaining lots, 8 are currently leased at $200/month with 2 vacant lots. Lot rents are slightly below market and can be increased quickly. Current rental income is $14,600/month and the park has significant value add potential.
Supplements: Tenants pay all utilities. Priced at an 13% CAP rate.
More Information MLS# 22004317
Listing Info
Status: Pending
Listing Date: 2022-05-09
Listing Price: 950000
Current Price: $950,000
Type: Mobile Home Park
Location, Tax & Legal Info
Street Number: 400
Street Name: Raymond
St Suffix: Street
Parish: St Landry
State: LA
Zip Code: 70570
Subdivision: None
Area: L2
Tax Assessment Number: 0100541590
Elementary School: Call School Board
Middle School: Call School Board
High School: Call School Board
Legal Desc: See Documents
Directions: Traveling East on Hwy 190, take Right onto S Bullard, Left onto W Grolee Street, Right onto Raymond Street. Park will be on your Right
General Property Description
Approximate Age: Other - See Remarks
Number of Units: 29
SqFt - Source: Approximate
Individual Metered?: No
Lot Dimensions: 180x443x320x455
Acres: 2.5
Mineral Rights: Conveyed
Office/Member/Contract Info
REO: No
Status Change Info
Under Contract Date: 2024-05-04
Appliances
Electric Range: 1
Water/Sewer
Water Company: Contact Listing Agent
Property Features
Siding: Aluminum; Vinyl Siding
Construction: Frame
Foundation: Other
Heating: Central
Cooling: Central Air; Window Units
Water/Sewer: Public Sewer; Public Water
Financing: Cash; Conventional
Documents
Legal Description ›Listing Office: NAI Latter & Blum
Last Updated: May - 06 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
The data relating to real estate for sale or lease on this website comes in part from the IDX program of the REALTOR® Association of Acadiana MLS. The IDX information is provided exclusively for consumers’ personal, non-commericial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.