$453K Noi Mobile Home Park

Land Description

Value-Add Mobile Home Park.

Marketplace Online Auction Nov. 14-16, 2022

Investment Highlights

Noi: institutional Seller

Value-add opportunity through lease-up, rent increases and improvements

Gates of McNeese serves as a primary housing option for the manufacturing district's workforce

Situated ±5 miles from Downtown Lake Charles through East McNeese Street and Common Street

Located in close proximity to McNeese State University

Host of national retailers located within a 5-mile radius including Walgreens, Albertsons, Tractor Supply, and more

Offering Details

Property One and RI Marketplace are pleased to present Gates of McNeese (the "Property"), a 229-Space RV mobile home community located in Lake Charles, Louisiana. The Property features a prime value-add opportunity for new ownership to capture additional upside through lease-up at market rates in a location with a multitude of demand drivers including secondary educational facilities, retail options, and a robust manufacturing sector. Furthermore, Gates of McNeese serves as a primary housing option amongst the manufacturing district's workforce population as a result of its convenient location. The Property is available at an attractive basis from a motivated institutional seller (special servicer) with the flexibility to accept preauction offers.

Median household income in the city of Lake Charles is with a workforce population of ±35,400 people. In 2020, the place with the highest median household income in Lake Charles was Census Tract 19.01 with a value of followed by Census Tract 5 and Census Tract 9, with respective values of and The largest industries in Lake Charles are Health Care & Social Assistance, Retail Trade, and Educational Services while the highest paying industries are Manufacturing and Transportation & Warehousing based on information provided by the United States Census Bureau.

Lamar P. Fisher

Fisher Auction Company Inc.

License: 1983

Co: Ab-424