Stabilized Apartments with Recent Upgrades 150 Shady Arbors Cir 123 Lots d’appartement Immeuble residentiel Vente aux enchères en ligne Houma, LA 70360

The Avery presents a compelling investment opportunity in Terrebonne Parish, offering a 123-unit multifamily community located at 150 Shady Arbors Circle in Houma, Louisiana. With stabilized occupancy, extensive recent renovations, and additional value-add growth opportunities, this rare offer is the perfect chance for investors seeking dependable cash flow from a well-maintained asset.

The 31-building complex was originally constructed in 1974, spanning a total of 159,626 square feet. It features quality amenities to attract and retain tenants, including a community swimming pool, a fitness center, laundry facilities, a grilling area, and attentive management on premises. The complex is currently 84% occupied, well above the market average, delivering a stabilized acquisition with consistent rental income.

Current ownership has invested more than $1.3 million in capital improvements in recent years. Upgrades include painting all buildings, replacing the roofs in 2021, replacing the interior stablok panels, replacing numerous HVAC units, and exterior improvements. Additionally, 77 apartment units have been fully renovated, now boasting upscale finishes and fixtures such as plank flooring, ceiling fans, and modern appliances. Several units are currently down, creating an upside for a new owner to renovate and rent the spaces and capture added revenue.

The Avery also benefits from an attractive location within a quiet neighborhood close to shopping, schools, and parks. The community sits just off Tunnel Boulevard, Houma’s primary retail corridor, placing tenants within minutes of national brands such as Walmart Supercenter, Target, Home Depot, Academy Sports, Planet Fitness, Starbucks, Chick-fil-A, Chili’s, and more. The site is also easily accessible for commuters, with direct access to Downtown Houma and Highway 24, with convenient connections to Highways 90 and 308.

Positioned within the Houma-Thibodaux Multifamily Market, The Avery benefits from a competitive rental environment that features favorable demographics and leasing trends. Currently, vacancies in the area sit well below historical averages, driving meaningful rent growth that has averaged 4.6% annually during the past five years. This elevated interest is fueled by a population of more than 64,000 that lives within 5 miles of the property, with more than 36% of households currently renting. Locals of the area command an average household income of more than $80,000, resulting in total consumer spending of more than $684 million, with more than $109 million spent on household costs. This affluent tenant base ensures strong support for The Avery as a long-term, stable investment.

Don’t miss this incredible opportunity to acquire a cash-flowing multifamily community that combines significant recent capital improvements with a well-connected location in the heart of Houma.

Property tours are by appointment only. Please contact the listing broker to schedule.