Vacant 52-Building 208-Unit Multifamily Asset | 734 W 68th St
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Vacant 52-Building 208-Unit Multifamily Asset 734 W 68th St
208 Apartment Units Online Auction Sale Shreveport, LA 71106
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Investment Highlights
- Fully vacant 52-building, 208-unit multifamily community prominently positioned in southwest Shreveport just minutes from downtown and the airport.
- 10-mile population of 253,750+ has a solid average HHI above $66,000 & 46% of the 10-mile population rents, positioning the asset for lease-up.
- Highly accessible asset located less than 0.5 miles from Highway 171 and less than 1 mile from I-49, connecting Shreveport to Texarkana & Alexandria.
- Property presents investors with a tremendous value-add opportunity through capital expenditure improvements and a strategic lease-up.
- Close to local amenities like McDonald's, AutoZone Auto Parts, Planet Fitness, Checkers, Subway, Shoppers Value Foods, Super 1 Foods, and more.
Executive Summary
Matthews Real Estate Investment Services is pleased to exclusively present a rare investment opportunity to acquire a vacant 208-unit multifamily complex situated off Interstate 49 in southwestern Shreveport, Louisiana. The Silver Lake multifamily community at 734 W 68th Street was constructed in 1980 on an expansive 13-acre lot spanning multiple blocks with flexible C-2 (General Commercial) zoning. The property was renovated in 2001, bringing in new life and vibrance. The asset comprises 52 four-unit, garden-style apartment buildings with dedicated parking for each building.
Silver Lake is ideally located within a half-mile of Highway 171 and less than a mile from Interstate 49, a heavily trafficked primary arterial connecting Shreveport to Alexandria, Louisiana, heading southbound and to Texarkana, Texas/Texarkana, Arkansas, heading northbound. 734 W 68th Street sits less than 5 miles (~11 minutes) from the Shreveport Regional Airport, operating flights through Allegiant Air, American Eagle, Delta Connection, and United Express, and just under 8 miles (~15 minutes) from downtown Shreveport. The asset is located close to a wealth of amenities, including Planet Fitness, AutoZone Auto Parts, McDonald's, John's Seafood, Checkers, Southern Classic Chicken, Dollar Tree, Family Dollar, CVS, Super 1 Foods, and many more. There are numerous schools in the nearby vicinity, including Atkins Elementary School, Sunset Acres Elementary School, Westwood Elementary School, and Caddo Middle Magnet, as well as higher learning institutions such as Louisiana State University in Shreveport.
The 10-mile radius surrounding Silver Lake is home to a population north of 253,750 residents with a solid average household income above $66,000. The 10-mile demographic comprises a mix of 54% owner-occupied households and 46% renter-occupied households. Silver Lake is in a prime position to cater to Shreveport area residents looking for affordable rental options.
The Silver Lake multifamily community presents investors with a sprawling apartment complex that has immense operational upside and a desirable location in southwest Shreveport, Louisiana.
Listed by Donnie Jarreau with Jarreau Real Estate, LA license #BROK.32688-ACT
Silver Lake is ideally located within a half-mile of Highway 171 and less than a mile from Interstate 49, a heavily trafficked primary arterial connecting Shreveport to Alexandria, Louisiana, heading southbound and to Texarkana, Texas/Texarkana, Arkansas, heading northbound. 734 W 68th Street sits less than 5 miles (~11 minutes) from the Shreveport Regional Airport, operating flights through Allegiant Air, American Eagle, Delta Connection, and United Express, and just under 8 miles (~15 minutes) from downtown Shreveport. The asset is located close to a wealth of amenities, including Planet Fitness, AutoZone Auto Parts, McDonald's, John's Seafood, Checkers, Southern Classic Chicken, Dollar Tree, Family Dollar, CVS, Super 1 Foods, and many more. There are numerous schools in the nearby vicinity, including Atkins Elementary School, Sunset Acres Elementary School, Westwood Elementary School, and Caddo Middle Magnet, as well as higher learning institutions such as Louisiana State University in Shreveport.
The 10-mile radius surrounding Silver Lake is home to a population north of 253,750 residents with a solid average household income above $66,000. The 10-mile demographic comprises a mix of 54% owner-occupied households and 46% renter-occupied households. Silver Lake is in a prime position to cater to Shreveport area residents looking for affordable rental options.
The Silver Lake multifamily community presents investors with a sprawling apartment complex that has immense operational upside and a desirable location in southwest Shreveport, Louisiana.
Listed by Donnie Jarreau with Jarreau Real Estate, LA license #BROK.32688-ACT
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per Unit
Shreveport - LA USA
Market Cap Rate
Shreveport - LA USA
Market Sale Price per Unit by Star Rating
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Market Cap Rate by Star Rating
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Market Sale Price per Unit Distribution
Market Cap Rate Distribution
Property Facts
| Sale Type | Investment | Lot Size | 13.05 AC |
| Sale Conditions | Auction Sale | Building Size | 151,244 SF |
| No. Units | 208 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1980/2021 |
| Apartment Style | Garden | Parking Ratio | 0.66/1,000 SF |
| Building Class | F |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| No. Units | 208 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | F |
| Lot Size | 13.05 AC |
| Building Size | 151,244 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built/Renovated | 1980/2021 |
| Parking Ratio | 0.66/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Wooden Floors
- Refrigerator
- Oven
- Range
- Window Coverings
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Playground
- Property Manager on Site
PROPERTY TAXES
| Parcel Number | 171423-015-0078-00 | Improvements Assessment | £221,478 |
| Land Assessment | £15,103 | Total Assessment | £236,581 |
PROPERTY TAXES
Parcel Number
171423-015-0078-00
Land Assessment
£15,103
Improvements Assessment
£221,478
Total Assessment
£236,581
zoning
| Zoning Code | C-2 (General Commercial Zone) |
| C-2 (General Commercial Zone) |
Sale Advisor
Sale Advisor
John Solari, Senior Associate
(224) 456-5563
Contact
John Solari is a multifamily specialist for Matthews™, focusing on the acquisition, disposition, and 1031 Exchanges of apartment assets throughout the Midwest. With a specialized degree in finance, John provides invaluable financial insights regardings client’s investment decisions. John’s experience and knowledge of the market makes him an invaluable asset at Matthews™.
Prior to joining Matthews™, John was on the MidMarkets team at Marcus & Millichap. In 2018, John received Rookie of the Year at Marcus & Millichap. In his career, he has closed over $125 million.
Prior to joining Matthews™, John was on the MidMarkets team at Marcus & Millichap. In 2018, John received Rookie of the Year at Marcus & Millichap. In his career, he has closed over $125 million.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial property. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr BROK.0995692305-CORP Irvine, CA; Auction Firm LA AB-446
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Vacant 52-Building 208-Unit Multifamily Asset | 734 W 68th St
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