Investment Overview

Flats on Walters is a 176-unit multifamily community located at 807 Walters Street in Lake Charles, Louisiana. Originally built in 1973 and extensively renovated in 2022, the property has been repositioned through a major capital program that included upgrades to interiors, exteriors, mechanical systems, roofing, appliances, flooring, and common areas. The asset now offers strong curb appeal, updated unit finishes, and a stabilized operating profile. Current ownership has invested approximately $13.0 million into the property, creating a substantially improved community with minimal deferred maintenance and limited near-term capital needs. The property is currently stabilized at 96% occupancy and generates gross annualized rents of approximately $2.03 million, with an average rent of $960 per unit. This combination of recent renovation, strong occupancy, and in-place cash flow presents investors with an opportunity to acquire a renovated, stabilized asset with immediate income. The property benefits from a highly accessible location in the heart of Lake Charles, just one mile from the I-210 loop and near major retail, healthcare, and educational demand drivers. McNeese State University is located roughly half a mile away, while Lake Charles Memorial employment is directly across the street. The surrounding market is supported by healthcare, education, petrochemical, gaming, and industrial employment, making Flats on Walters well positioned for continued leasing demand and long-term investment performance.