24 STEEP DRIVE
Property Description
Prime opportunity to acquire a 22-home, income-producing residential portfolio in Richland Parish; an area of regional growth and expanding demand for quality housing. Built between 2024 and 2026, the site-built 3-bedroom, 2-bath homes contain approximately 27,405 total square feet and are concentrated in three nearby locations near I-20 and LA-133 - providing a more efficient ownership and management structure than a widely scattered rental package. The Seller-provided rent roll reflects 22 occupied homes generating $51,520 in monthly rent, $618,240 in annual gross rent and preliminary NOI of $508,708, with all utilities paid by tenants. Offered at $6,825,000, the portfolio reflects a 7.45% asking cap rate based on current Seller-provided financials. The portfolio is already serving corporate and contractor-related occupancy connected to significant regional development activity. Its newer housing stock and concentrated footprint position it well to accommodate continued project-related housing demand while offering an investor immediate cash flow, streamlined operations and underlying home-by-home value. Supporting property, operating and lease documentation may be made available through the offering process. All financial information is Seller-provided, preliminary and subject to Buyer verification.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $6,825,000 |
| No. of Units: | 22 |
| Opportunity Zone: | No |
| Price per unit: | $310,227 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-NELBOR-220724
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