$1,350,000
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2505 Rhua Drive Unit 2505 Sulphur, LA 70663
Apartment
Residence
Beds
Baths
...
Bed/Bath
19,331
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
Seize this incredible opportunity to own a profitable 20-unit apartment complex in the Maplewood area of Sulphur, ideally situated close to I-10. This investment property boasts a strong cash flow with low vacancy rates, making it an attractive option for investors. Comprising five separate building...s, each unit within the complex offers 2 bedrooms and 1 bathroom with an open floor plan that appeals to tenants. The owner is responsible for water and trash expenses only, as all units are individually metered for electricity, enhancing cost efficiency. Post-hurricane updates include new roofs and extensive interior remodels across most units, featuring fresh paint and modern finishes that enhance tenant appeal. Located in flood zone X, investors benefit from no mandatory flood insurance, further reducing overhead costs. Currently, rents are set at $750 per unit per month, accumulating approximately $15,000 in total monthly revenue when fully occupied. With two units presently undergoing preparations for new tenants and available for showing on short notice via lockbox, this complex is nearly at full capacity. Annual property taxes are an affordable $4,032. The seller is presently not open to owner financing, paving the way for straightforward acquisition. With competitive pricing and strong income potential, this property is a must-see for serious investors. Act now to explore this excellent investment opportunity and consider making an offer on this high-demand rental property.
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MLS#
SWL24007174
Property Type
Apartment
Year Built
1988
Square Feet
19,331
sq. ft
Lot Size
0.77
Stories
2.0
Sewer
Sewer Connected, Public Sewer
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