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The Oaks Apartments 2400 Fruge St

56 Unit Block of Flats £3,059,199 (£54,629/Unit) Lake Charles, LA 70601

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Investment Highlights

56 Newly Renovated LIHTC units located in Lake Charles, LA.
Initial Compliance Period expired in 2015
Built in 2004, with complete interior renovation, new roofs, parking lot restriped, majority new appliances and updated finishes in 2022/2023.

Extended Compliance period expires in 2030 and is currently QC eligible
All units are individually metered for all utilities and Tenants are responsible for these expenses which reduces the expense load for the owners.
Lake Charles is renowned for their petrochemical industry and gaming industry.

Executive Summary

56 Unit Affordable Apartment Complex located in Lake Charles, LA

The Oaks OM

Property Facts

Price	£3,059,199	Lot Size	3.66 AC
Price Per Unit	£54,629	Building Size	86,226 SF
Sale Type	Investment	Average Occupancy	96%
No. Units	56	Number of Floors	3
Property Type	Residential	Year Built/Renovated	2004/2023
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park	Parking Ratio	1.3/1,000 SF
Apartment Style	Garden	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Building Class	B

Price	£3,059,199
Price Per Unit	£54,629
Sale Type	Investment
No. Units	56
Property Type	Residential
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park
Apartment Style	Garden
Building Class	B
Lot Size	3.66 AC
Building Size	86,226 SF
Average Occupancy	96%
Number of Floors	3
Year Built/Renovated	2004/2023
Parking Ratio	1.3/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.