Investment Highlights

Motivated institutional Seller
Value-add opportunity through lease-up, rent increases and improvements
Gates of McNeese serves as a primary housing option for the manufacturing district's workforce
Situated ±5 miles from Downtown Lake Charles through East McNeese Street and Common Street
Located in close proximity to McNeese State University
Host of national retailers located within a 5-mile radius including Walgreens, Albertsons, Tractor Supply, and more

Offering Details - $650,000 Starting Bid

Property One and RI Marketplace are pleased to present Gates of McNeese (the "Property"), a 212-space (9 pull-through spaces) RV mobile home community located in Lake Charles, Louisiana. The Property features a prime value-add opportunity for new ownership to capture additional upside through lease-up at market rates in a location with a multitude of demand drivers including secondary educational facilities, retail options, and a robust manufacturing sector. Furthermore, Gates of McNeese serves as a primary housing option amongst the manufacturing district's workforce population as a result of its convenient location. The Property is available at an attractive basis from a motivated institutional seller (special servicer) with the flexibility to accept preauction offers.

Median household income in the city of Lake Charles is ±$44,785 with a workforce population of ±35,400 people. In 2020, the place with the highest median household income in Lake Charles was Census Tract 19.01 with a value of ±$95,734, followed by Census Tract 5 and Census Tract 9, with respective values of ±$64,940 and ±$57,634. The largest industries in Lake Charles are Health Care & Social Assistance, Retail Trade, and Educational Services while the highest paying industries are Manufacturing (±$64,740) and Transportation & Warehousing (±$60,582) based on information provided by the United States Census Bureau.

Auctioneer

Lamar P. Fisher
Fisher Auction Company Inc.
License: 1983
Co: AB-424