Muller's Lofts | 625 Ryan St
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Muller's Lofts 625 Ryan St
40 Unit Apartment Building $10,000,000 ($250,000/Unit) Lake Charles, LA 70601
Investment Highlights
- Downtown close to businesses, restaurants, lakefront and festivals.
Executive Summary
Modern meets historical in this multi-use commercial/residential building with FULLY OCCUPIED residential lofts and approximately 15,000 sqft of commercial/retail space! Formerly Muller's Department Store, opened in 1910, Muller's is home to 4 stories and 40 total units with very little turnover! Happy residents, including some corporate tenants, enjoy a variety of amenities, including controlled access, water included in rent, washer/dryer connections, on-site management/maintenance, elevator, a total appliances package, tankless hot water heater for efficiency, not to mention the beautiful aesthetics of this historical gem (exposed original brick walls and original wood windows). INVESTORS LOOKOUT! This is the property you've been waiting for! Included in the sale is an additional 1.1 acre tract adjacent to the rear of building used as a parking lot with 105 spaces. Tenant parking available in an adjacent parking lot. See MLS # SWL24004365 for information on commercial/retail space available for lease. All measurements are more or less!
Property Facts
| Price | $10,000,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.56 AC |
| Sale Type | Investment | Building Size | 71,364 SF |
| No. Units | 40 | Average Occupancy | 91% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2012 |
| Apartment Style | Mid Rise | Opportunity Zone |
Yes
|
| Price | $10,000,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 71,364 SF |
| Average Occupancy | 91% |
| No. Stories | 4 |
| Year Built | 2012 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 510 - 5,100 |
| 1+1 | 24 | - | 773 - 1,150 |
| 2+2 | 10 | - | 1,271 - 1,821 |
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PROPERTY TAXES
| Parcel Number | 00589616 | Improvements Assessment | $417,220 |
| Land Assessment | $16,970 | Total Assessment | $434,190 |
PROPERTY TAXES
Parcel Number
00589616
Land Assessment
$16,970
Improvements Assessment
$417,220
Total Assessment
$434,190
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Muller's Lofts | 625 Ryan St
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