207 5th Street

About this home

Exceptional investment opportunity featuring a well-maintained, 16-unit, all-brick apartment complex comprised of two-bedroom apartments, thoughtfully designed for residents (62 years of age and older). The community is centered around a serene courtyard with beautifully maintained landscaping, creating a welcoming and peaceful environment. This property operates under a multi-year Housing Assistance Payment (HAP) contract through the U.S. Department of Housing and Urban Development, making it eligible for automatic annual OCAF rent increases—providing stable, predictable income. The complex maintains near full occupancy, with 15 of 16 units leased to long-standing residents, supporting strong and dependable cash flow. Residents enjoy clean, functional living with coin-operated laundry facilities on both the upper and lower levels. The complex offers handicap-accessible features and is conveniently located near local amenities, including coffee shops, restaurants, clinics, and retail, providing excellent walkability and everyday convenience for residents.

Property details

County

Pike

Subdivision

Thomas Apartments

Lot size

0.369 acres

Days on market

235

Annual taxes

$5,654

Heating

Baseboard, Electric

Cooling

Wall Unit(s)

Basement

None

Appliances

Dryer, Exhaust Fan, Electric Oven, Refrigerator, Washer, Water Heater

Flooring

Carpet, Combination, Laminate, Linoleum, Luxury Vinyl, Simulated Wood, Varies

Style

Apartment Style

Schools

School district

Louisiana R-II

Elementary

Louisiana Elem.

Middle

Louisiana Middle

High

Louisiana High

Location