Description
Oak Plaza Apartments has been owned and operated by the same family since 1978 and is being offered for sale as part of a generational succession. The property has maintained a strong and consistent occupancy history and is presently 100% occupied. It has been well maintained under long-term ownership. Historically, operations have not been optimized to maximize rental revenue or operating efficiencies, presenting a compelling value-add opportunity for an investor. Upside potential exists through market-supported rent growth, improved expense management, and professional operations. The asset is a stabilized, income-producing multifamily investment located in a market with job growth such as the new LNG liquefaction and export facility in Plaquemines Parish coupled with a limited number of multifamily properties in the immediate area. Oak Plaza Apartments consists of twenty three (23) well-maintained one-bedroom/one-bathroom units with on-site laundry faciliites and an office/storage room, situated across two separate two-story buildings positioned on either side of a private, on-site parking lot exclusively for residents. The apartments are individually-metered electricity with central water service. With stable tenancy and strong rental demand, Oak Plaza Apartments provides an attractive investment opportunity.
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