Price Reduction
Address
400 Raymond Street, Opelousas, LA
Price
$ 950,000
Property Attributes
- MLS#22004317
- TypeMulti-Family
- ParishST LANDRY
- CityOpelousas
- AreaL2
- Zip70570
- Style
- Price$ 950,000
- Bedrooms29
- Full Bathrooms0
- Half Bathrooms0
- Lot Size2.5 Acres
Data Source:
REALTOR® Association of Acadiana (LBRMLS)
Property 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, newperimeter 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.Tenants pay all utilities. Priced at an 13% CAP rate.
| Elementary School | Middle School | High School |
|---|---|---|
| Call School Board Elementary School | Call School Board Middle School | Call School Board High School |
| Price History | |
|---|---|
| 12/20/2023 | Listed $1,200,000 |
| 12/20/2023 | 10% - $1,090,000 |
| 2/7/2024 | 9% - $995,000 |
| 4/22/2024 | 5% - $950,000 |
General Features
| Construction | Frame |
|---|---|
| Heating | Central |
| Cooling | Central Air,Window Units |
| Appliances | Electric Range,Electric Range |
| REO | No |
| Subdivision | None |
| Type | Mobile Home Park |
| Property Type | B |
| Area | L2 |
| Financing | Cash,Conventional |
| Age | Other - See Remarks |
| Acres | 2.50 |
| 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 |
| City | Opelousas |
| Middle School | Call School Board |
| Individual Metered? | No |
| Street Name | Raymond |
| High School | Call School Board |
| Elementary School | Call School Board |
| Legal Description | See Documents |
Interior Features
| Total Number of Units | 29 |
|---|---|
| Street Suffix | Street |
| SqFt - Total | 0.00 |
Exterior Features
| Water/Sewer | Public Sewer,Public Water |
|---|---|
| Foundation | Other |
| Siding | Aluminum,Vinyl Siding |
| Total Parking Spaces | 0.00 |
| Mineral Rights | Conveyed |
| Lot Dimensions | 180x443x320x455 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 70570
Price
Visits
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