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8040 Line Ave
Shreveport, LA 71106
The Pines Apartments · Multifamily Property For Sale
·
128 Units
PROPERTY FACTS
| No. Units | 128 | Building Size | 86,216 SF |
| Property Type | Multifamily | Average Occupancy | 17% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1972/2023 |
| Building Class | F | Parking Ratio | 3.9/1,000 SF |
| Lot Size | 5.00 AC |
| No. Units | 128 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | F |
| Lot Size | 5.00 AC |
| Building Size | 86,216 SF |
| Average Occupancy | 17% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2023 |
| Parking Ratio | 3.9/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Handrails
- Trash Compactor
- Vinyl Flooring
- Warming Drawer
- Wheelchair Accessible (Rooms)
- Window Coverings
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Renters Insurance Program
- Hearing Impaired Accessible
- Maintenance on site
- Multi Use Room
- Online Services
- Vision Impaired Accessible
- Public Transportation
- Individual Locking Bedrooms
- Private Bathroom
ABOUT 8040 LINE AVE , SHREVEPORT, LA 71106
The Pines Apartments was recently purchased in a portfolio of King’s Manor consisting of over 700 units. The Pines property condition is superior to the balance of the portfolio so the new ownership has decided to sell the property at a reduced price to re-balance their capital outlay for the remaining portfolio. Since November of 2018, operations have improved under new ownership. A value-add opportunity exists to complete make readies and lease up at an estimated total cost of apx $120,000. With proper management, occupancy should continue to increase to the market average of 95% for the Shreveport class C market. This Property has a New Parking Lot, New Roof on all buildings and On-Site Laundry Facilities equipped with new machines featuring card readers. Previous buyer terminated after inspections were complete within feasibility period due to lack of financing. No inspection report was obtained by the seller. LOCATION OVERVIEW Suburban in feel, Cedar Grove and Lynbrook consist primarily of homes interspersed with a handful of parks and businesses. The northwest corner of the neighborhood transitions to a mix of commercial and apartment buildings along Highways 117 and 511. Central Shreveport lies about seven miles north, while Interstate 49 and numerous highways easily connect residents with the airport and greater Shreveport area. Join the locals at dining spots along Line Avenue. PROPERTY FEATURES • On-Site Property Management/ Leasing Office. • 1, 2 and 3 Bedroom Apartments improving the opportunity to lease different resident types. • Outdoor Recreational areas • On-Site Laundry Facility with Card Reading Capable Machines VALUE-ADD OPPORTUNITY • Improving Occupancy by hiring a professional Management company for On-Site Management • Increase Rent for 2 and 3 bedroom units to market rates • Exterior and Interior Upgrades/Improvements and scheduled Unit Make-Readys. Call Logan: 214.736.1500 complete details here: http://wallergrouphomes.com/properties/?propertyId=410023-sale
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 30 | - | 525 - 550 |
| 2+1 | 84 | - | 645 - 672 |
| 3+1 | 14 | - | 1,100 |
PROPERTY TAXES
| Parcel Number | 171338-002-0032-00 | Improvements Assessment | $204,606 |
| Land Assessment | $10,606 | Total Assessment | $215,212 |
PROPERTY TAXES
