$1,470,000
$5K PRICE DROP

602 Penn St Unit 1-9 Lake Charles, LA 70601

Estimated payment $8,569/month

Total Views 907
-- Bed
-- Bath
9,468 Sq Ft
$155 Price per Sq Ft

Highlights

  • Corner Lot
  • Energy-Efficient Appliances
  • Turnkey
  • Cottage
  • Central Heating and Cooling System

About This Home

Welcome to a superb investment opportunity with this nearly new, well-maintained apartment complex! Built in 2023, this property features 9 modern, 2-bedroom, 2-bathroom units, each unit is 1,052 square feet. All 9 units currently leased, you'll benefit from immediate cash flow. The complex boasts low maintenance requirements, making it an ideal investment for those seeking a hassle-free property. With its prime location and modern amenities, this complex is a fantastic addition to any real estate portfolio. Don't miss out on this opportunity to acquire a near-new property with strong income potential! All measurements are more or less.

Listing Agent

KATY RADFORD

Compass-LC License #0995685798 Listed on: 09/17/2024

Compass-LC

Co-Listing Agent

Harold Miller

Compass-LC License #0995684793

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,846

Year Built

  • 2023

Lot Details

  • Lot Dimensions are 150x176
  • 1 Common Wall
  • Corner Lot

Home Design

  • Cottage
  • Property Attached
  • Turnkey
  • Brick Exterior Construction
  • Slab Foundation
  • Shingle Roof

Kitchen

  • Electric Range
  • Microwave
  • Dishwasher

Laundry

  • Dryer
  • Washer

Utilities

  • Central Heating and Cooling System
  • Electric Water Heater

Additional Features

  • Energy-Efficient Appliances
  • City Lot

Listing and Financial Details

  • Tax Block 11

Community Details

Overview

  • Built by SWLA Constructors

Building Details

  • 9 Separate Electric Meters
  • 9 Separate Water Meters
  • Insurance Expense $10,260
  • New Taxes Expense $10,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,846

Year Built

2023

Lot Details

0

Listing Details

  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Lot Features: Corner Lot, City Lot
  • Lot Size: 150x176
  • Has View?: No
  • Co List Office Phone: 337-439-6639
  • Co List Office Phone: 337-439-6639
  • Special Conditions: Standard
  • Directions: From 210 head north on Lake Street, turn right on 18th, turn left on Creole St, and the apartments are located on the corner of Creole St & Penn St
  • Architectural Style: Cottage
  • Has Cooling?: Yes
  • Has Fireplace?: No
  • Is New Construction?: No
  • Property Attached Yn: Yes
  • PropertySubTypeAdditional: Apartment
  • Special Features: 4098
  • Stories: 2
  • Year Built: 2023

Interior Features

  • Number Of Buildings: 4
  • Private Spa: No
  • Appliances: Dishwasher, Electric Range, Electric Water Heater, Microwave, Refrigerator, Dryer, Washer
  • Fireplace Features: None

Exterior Features

  • Has Private Pool?: No
  • Builder Name: SWLA Constructors
  • Common Walls: 1 Common Wall
  • Construction Type: Brick
  • Foundation Details: Slab
  • Property Condition: Turnkey
  • Roof: Shingle

Garage/Parking

  • Has Open Parking?: No

Utilities

  • Laundry Features: Inside
  • Green Building Features: Appliances
  • Cooling: Central Air
  • Heating: Central, Electric
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Lot Info

  • Land Lease: No
  • Additional Parcels: No

Rental Info

  • Rent Control: No

Multi Family

  • Insurance Expense: 10260.0
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Water Meters: 9

Tax Info

  • New Taxes Expense: 10000.0
  • Tax Block: 11

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $9,846 $102,690 $5,400 $97,290
2023 $9,846 $5,400 $5,400 $0
2022 $1,024 $10,590 $5,400 $5,190
2021 $886 $10,590 $5,400 $5,190
2020 $949 $9,850 $5,180 $4,670
2019 $983 $10,190 $5,000 $5,190
2018 $986 $10,190 $5,000 $5,190
2017 $992 $10,190 $5,000 $5,190
2016 $1,003 $10,190 $5,000 $5,190
2015 $1,003 $10,190 $5,000 $5,190
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/16/2024 09/16/24 For Sale $1,475,000 -- $156 / Sq Ft
Source: Southwest Louisiana Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Warranty Deed $75,000 None Listed On Document
Cash Sale Deed $62,500 Safeguard Title
Cash Sale Deed $32,000 None Available
Deed $130,000 None Available
Deed $120,000 Elite Title Insurance Agency
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $104,000 New Conventional
Previous Owner $96,000 Purchase Money Mortgage
Source: Public Records

Source: Southwest Louisiana Association of REALTORS®

MLS Number: SWL24005554

APN: 00380903

Louisiana Calcasieu Parish Lake Charles 70601

602 Penn St Unit 1-9, Lake Charles, LA

For Sale

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KATY RADFORD
Listing Agent
KATY RADFORD
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Compass-LC
(337) 472-7420