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1800 Martin Luther King Blvd Houma, LA, 70360,
Current Bid $30,000
About Property
1800 MARTIN LUTHER KING BLVD, Houma, Louisiana, 70360,
Property Information
97-Room, Four-Story, Holiday Inn
LaPirogue Restaurant and Bar Located On-Site
4,200sf of Meeting Space which Creates a Competitive Advantage and Allows for the Property to Attract Group Accounts
Managed by a Third-Party Management Company
$1MM+/- Recent Renovations - Including a New TPO Roof in 2019
Opportunity to Benefit from Rising Oil Prices and Demand as a Result of being near Major Oil Industry
Close Proximity to BP, Gulf Island Fabrication, Houma-Terrabone Airport & Industrial Park, Bollinger Shipyard, Baker Hughes, Halliburton & Terrebonne Medical Center
2020 Total Revenue of $3,085,498
2019 Total Revenue of $2,823,276
2020 NOI of $1,055,988 (after 3% Management Fee and 4% FF&E Reserves)
- Property Type: Multifamily
- Property Subtype(s): Apartment Building
- Square Footage: 20.0
- Year Built: 2010
- Lot Size: 500 SQ FT.
- Asset Type: Commercial
- Terms Accepted: Cash Only
- Occupied By: Owner
- Ownership: Individual
- Possession: At Closing
- Lease Expiration: 2021-05-27T07:33:00Z
- Total Buildings: 210
- Total Units: 5
- Total Floors: 4
- Garage/Spaces: 10
- Basement: Yes
- Recent Updates: Flooring
- Net Operating Income: NA
- Occupancy: NA
- Cap Rate: NA
- Average Rent/Unit: 10
- Cooling: Central Air
- Heating: Heat Pump
- Electric: 100 Amp
- Gas: Natural Gas
- Water: City Water
- Property Taxes: $4
- Special Assessment Taxes: $4
- HOA Fee(s): $4 Monthly
- Total Rooms: 10
- Total Bedrooms: 5
- Total Bathrooms: 2
- Total Public Restrooms: 3
- Ceiling Height: 11
- Flooring: NA
The economy of Houma-Terrebonne and this region is strong and poised for continued expansion. From oil service to retail and from shipyards to seafood, Terrebonne has tremendous opportunities within their growing economy. Houma, Louisiana is strategically located centrally to New Orleans, Baton Rouge, and Lafayette. The Parish of Terrebonne consists of approximately 108,690 people but also draws its highly skilled workforce and business from a four-parish region which consists of approximately 276,417 people. The City of Houma, the hub for the parishes’ consolidated government and financial epicenter. Houma-Terrebonne is also located at the intersections of the Gulf Intracoastal Waterway and the Houma Navigation Canal, which is a straight twenty-six-mile voyage to the Gulf of Mexico. The convergence of these two water superhighways is adjacent to the medium draft Port of Terrebonne, which is currently leasing land with channel access.
- Unpaid Principal Balance: $0.00
- Original Balance: $0.00
- Total Payoff: $0.00
- Payments Remaining: 0.00
- Interest Only Loan: No
- Principal and Interest Payment: $0.00
- Escrow/Impounds: $0.00
- Total Monthly Loan Payment: $0.00
- Accrued Late Charges: $0.00
- Hardest Hit Fund State: No
- Judicial State: No
- Non Judicial State: No
