105 S Grace Street S

Description

SELLER HAS A LOMA ON FILE—AND, ACCORDING TO THE SELLER, FLOOD INSURANCE IS NOT CURRENTLY REQUIRED. BUILT HIGH AND DRY! FOUR DOORS. 2023 CONSTRUCTION. INCOME FROM DAY ONE. For the investor who wants newer construction without beginning with a renovation list, this fully leased Lake Charles property delivers four spacious townhome residences in one streamlined acquisition. The property consists of two duplex buildings constructed by local builder Roy Washington. Architectural plans reflect approximately 1,328 square feet of living area per residence. Each two-story townhome offers three oversized bedrooms, two-and-a-half baths and a private first-floor primary suite, with two additional bedrooms upstairs. Inside, the units feature low-maintenance concrete flooring, recessed lighting, shaker-style cabinetry and quartz countertops in both the kitchens and bathrooms. Each of the two full bathrooms includes a tub-and-shower combination, while the convenient downstairs half bath offers a pedestal sink and toilet. Every residence also includes a spacious interior laundry room and its own covered concrete back patio—giving tenants functional indoor and outdoor living space. Each unit is equipped with one zoned HVAC system controlled by two thermostats, a separate electric meter and dedicated plumbing access. Refrigerators, stoves and microwaves are included; there are no dishwashers but there is a place and lines ran for them. The seller currently pays for water, while each tenant is responsible for electricity. THE INCOME IS ALREADY IN PLACE. All four residences are leased on one-year terms at $1,250 per month, generating $5,000 in current monthly scheduled rent and $60,000 annually. The owner plans to increase each unit by $100 per month as leases renew, creating potential scheduled income of $64,800 annually. Future rents are not guaranteed. The seller reports that a Letter of Map Amendment is on file and that flood insurance is not currently required. Buyers, lenders and insurers must independently verify the LOMA, flood designation and all insurance requirements. Lease and operating documents are available to qualified buyers. Advance appointment is required. Please do not disturb the tenants.