70601 Chapman Drive - Abita Springs Apartments 40 Unit Apartment Building Offered at $3,200,000 at a 7.93% Cap Rate Abita Springs, LA 70420

???????CBRE is pleased to present the opportunity to acquire Abita Springs Apartments, a stable 40-unit portfolio located in the heart of Abita Springs, LA. Comprised of two 20-unit sections on Snead Drive and Chapman Drive situated within one mile of each other, the property offers an investor a rare foothold in a market characterized by limited competition and high barriers to entry. The asset has been professionally maintained, resulting in a 90% occupancy rate and a proven history of steady performance with average rents of $1,075 per month. While the property currently benefits from established day-to-day oversight and tenant relations, the real value lies in the transition to a more streamlined operational model. Because the physical asset is in good condition, a new owner can bypass the need for heavy capital expenditures and focus immediately on reducing the existing expense overhead and recapturing lost efficiency.
The property’s unique appeal stems from its ability to offer tenants a distinctive “country feel” without sacrificing the convenience of apartment living, a combination that resonates strongly with the local demographic. This lifestyle advantage, paired with the scarcity of similar rental housing in the area, ensures consistent demand and protects long-term value. Investors will find that the property provides a turnkey foundation with a robust income stream already in place, yet leaves significant room for Net Operating Income growth through disciplined management. By capitalizing on the appreciating Abita Springs market and refining the current budget, this asset is positioned for both immediate stability and substantial long-term appreciation.
Please see link for more information: https://www.cbredealflow.com/handler/modern.aspx?pv=k_SmdBMW98U9AaIEaEhup45ruwucrsXZcyeUY1d8vHF5WKQInWTYZwMM0JSRibV6fSSJkHIU1k1Qg-zfTPa6lg