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2524 Crockett St 18 Unit Apartment Building $1,900,000 ($105,556/Unit) 6.97% Cap Rate Lake Charles, LA 70601
Investment Highlights
- Built in 2018 — Low-maintenance all-brick construction with modern building systems designed to minimize near-term capital expenditures.
- Operationally improved ownership — Recent ownership has focused on strengthening operations through updated leasing, property improvements, and manage
- Low-maintenance ownership model — Nine single-story duplex buildings eliminate common hallways stairwells, and elevators while reducing long-term opex
- Historically strong occupancy — Consistently leased workforce housing with minimal downtime between tenants
- Recent capital improvements — Smart lock systems have been installed throughout the portfolio
- Professionally managed investment — Established management systems and operating procedures support a smooth transition for future ownership.
Executive Summary
The Crockett & Malcolm Duplex Portfolio offers the opportunity to acquire a fully stabilized 18-unit multifamily investment in Lake Charles, Louisiana. The property consists of nine single-story duplex buildings totaling eighteen two-bedroom, one-bathroom units, each containing approximately 885 square feet. Built in 2018, the portfolio features durable all-brick construction, modern building systems, and a low-maintenance design that reduces near-term capital expenditure requirements.
The portfolio has been professionally managed and is designed for operational simplicity. Each unit is individually metered, with tenants responsible for their own utilities, resulting in predictable operating expenses and a straightforward ownership structure. The duplex configuration eliminates many of the common maintenance and operational challenges associated with larger apartment communities while maintaining the economies of scale of an 18-unit investment.
Located in North Lake Charles, the property serves the region’s stable workforce housing market, supported by major petrochemical, LNG, refining, healthcare, and industrial employers. Combined with recent construction, strong occupancy, and efficient operations, the portfolio is well positioned to appeal to private investors, regional multifamily operators, and 1031 exchange buyers seeking durable cash flow with limited operational complexity.
The portfolio has been professionally managed and is designed for operational simplicity. Each unit is individually metered, with tenants responsible for their own utilities, resulting in predictable operating expenses and a straightforward ownership structure. The duplex configuration eliminates many of the common maintenance and operational challenges associated with larger apartment communities while maintaining the economies of scale of an 18-unit investment.
Located in North Lake Charles, the property serves the region’s stable workforce housing market, supported by major petrochemical, LNG, refining, healthcare, and industrial employers. Combined with recent construction, strong occupancy, and efficient operations, the portfolio is well positioned to appeal to private investors, regional multifamily operators, and 1031 exchange buyers seeking durable cash flow with limited operational complexity.
Property Facts
| Price | $1,900,000 | Apartment Style | Garden |
| Price Per Unit | $105,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.62 AC |
| Cap Rate | 6.97% | Building Size | 15,930 SF |
| No. Units | 18 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2018 |
| Zoning | Business - Business | ||
| Price | $1,900,000 |
| Price Per Unit | $105,556 |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.62 AC |
| Building Size | 15,930 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2018 |
| Zoning | Business - Business |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 18 | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Property Taxes
| Parcel Number | 00289906 | Improvements Assessment | $78,810 |
| Land Assessment | $1,340 | Total Assessment | $80,150 |
Property Taxes
Parcel Number
00289906
Land Assessment
$1,340
Improvements Assessment
$78,810
Total Assessment
$80,150
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