8.39%* Cap Rate | Multifamily Portfolio | 28 Units | 100% Occupied

Multi-Family for Sale
Catylist Listing ID: 30823843
Number of Units: 28 Units
Building Size (RSF): 22,254 SF
Gross Building Area: See Agent
Gross Land Area: 37,553 SF
Sale Price: $2,350,000
Unit Price: $83,928.57 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed, Cash to Seller, Other
Cap Rate: 8.39%
Average Occupancy Rate: 100
Last Updated: 12/6/2022

Overview / Comments

3 Properties For Sale: 28 units total:
8.39% Cap Rate (Actual)
10.68% Cap Rate (Pro Forma)

2825 Amelia Street, New Orleans, LA - Approx. GBA: +/- 8,000 SF
One Building with a total of 10 units
Unit Makeup: (4) 3 bed/1 bath + (4) 2 bed/ 1 bath + (2) 1 bed/ 1 bath

1601-09 Lesseps Street, New Orleans, LA - Approx. GBA: +/- 7,362 SF
Two Buildings with a total of 8 units
Unit Makeup: (8) 2 bed/1 bath

1300 Bolo Court, Bridge City, LA - Approx. GBA: +/- 6,892 SF
One Building with a total of 10 units
Unit Makeup: (2) 3 bed/1 bath + (2) 1 bed/ 1 bath + (6) 2 bed / 1.5bath

Overview: Rare opportunity to purchase a multi-family portfolio in the New Orleans area. The improvements consist of Four total buildings with a total of 28 fully occupied apartments. Approximately 38 total off-street parking spaces are provided for the tenants. The buildings are well maintained and have stabilized, in-place cash flow. The locations and their proximity to both the surrounding neighborhoods and the direct proximity to multiple retailers, schools and places of work provide stability and rent appreciation.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 614336318
Percent Occupied: 100%
Total Number of Buildings: 4
Property Condition: Good
Number of Stories: 2
Construction/Siding: Brick, Stucco
Parking Type: Surface
Total Parking Spaces: 38
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Engineered System
Internet Access: Cable, Satellite
Zoning Description: HU-RM1 (Amelia Street) | HU-B1 (Lesseps Street) | R1A Single-Family Residential District (Bolo Court)
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 32,593 188,048 412,465
Median Age: 34.85 35.84 37.28
Households: 14,427 82,881 174,057

Contact

Photograph of Listing Agent

Cameron Griffin

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
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