Acadia Park - 192 Heavy-Lift Value-Add Units - 1300 Laban Ave, Houma, LA 70363

Welcome to a unique investment opportunity presented by NAI Latter & Blum—Acadia Park, located at 1300 Laban Ave, is a 192-unit market-rate property that promises substantial value-add potential.

This property stands out as a heavy-lift value-add opportunity with immense upside potential. The current ownership has diligently managed the property, minimizing any potential damage to down units and ensuring that they are ready for renovation. A significant portion of the units (130 units) has been stripped down to the studs, providing the next owner with a blank canvas to transform these units into modern, highly desirable living spaces.

Acadia Park is offered free and clear of any existing debt at a low price per door, making it an attractive investment opportunity for those looking to enter or expand their presence in the Houma real estate market. It is currently professionally managed by one of the best management companies in the state, ensuring that tenants receive top-notch service and maintenance.

Investment Highlights

- 192-unit, heavy lift, value-add opportunity with the ability to add washer/dryer connections

- Spacious floor plans with an average unit size of 882 square feet

- Unique opportunity with the property currently generating slightly under $58k/month through rentable units

- Units that are online have an average rent of $1,051/month

- 130 units are currently down to the studs and ready for the next owner to bring back online

- Professionally managed by one the best management companies in the state

- Offered free and clear of any existing debt at a low price per door

- In-place rents tell a compelling story of what the rents could be if the property was 100% renovated

Asking Price: $4,250,000

See the below link to access the OM and Due Diligence for Acadia Park.

https://www.crexi.com/properties/1224334/louisiana-acadia-park