Catylist ID:
#30836078
University area 5 plex with 2 buildable lots!
Multi-Family
for Sale
| Catylist Listing ID: | 30836078 |
| Property Subtypes: | Low-Rise/Garden |
| Number of Units: | 5 Units |
| Building Size (RSF): | 3,053 SF |
| Gross Land Area: | 10,000 SF |
| Sale Price: | $775,000 |
| Unit Price: | $155,000 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 100 |
| Last Updated: | 3/20/2023 |
Overview / Comments
|
Rare opportunity to purchase a University/Carrollton 5 unit complex with 2 extra lots for future development! The complex was renovated from the ground up in 2014 with all new framing, electrical, plumbing, HVAC's, siding, porches, & roof & is in excellent condition. Each unit is 1 bed/ 1 bath, 100% occupied with a current rent roll of $4,994. There is room for value add with upgraded appliances & rent escalations but the hard work is done. Building has a low maintenance exterior, high end finishes, nice common spaces, & is located in a high demand rental area that still has room for growth. 8520 Hickory also for sale located across the street for $1,750,000. $2,500,000 for both 1st showing: Wed March 15, 11am - 2pm, 2nd Property Showing: Mon, March 20 11am - 2pm, Offers Due: Thurs, March 23 at 5pm. |
Attachments & Media
Additional Details
| Nearest MSA: | New Orleans-Metairie |
| County: | Orleans |
| Submarket/Township: | Greater New Orleans |
| Tax ID/APN: | 716300605 |
| Percent Occupied: | 100% |
| Property Located Between: | Joliet & Leonidas |
| Site Description: | apartments located on a 50 x 100 lot. 2 additional 25 x 100 lots included. Formerly permitted plans for 2 doubles can be included as well. |
| Total Number of Buildings: | 1 |
| Property Condition: | Excellent |
| Number of Stories: | 2 |
| Year Built: | 1940 |
| Year Renovated: | 2014 |
| Parking Type: | Surface |
| Laundry: | In Each Unit |
| Sprinklers: | None |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Fuel: | Electric |
| Air Conditioning: | Package Unit |
| Zoning Description: | HU-RD2 |
| Lot Frontage: | 100 |
| Lot Depth: | 100 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 25,868 | 172,467 | 415,723 |
| Median Age: | 32.69 | 36.84 | 38.51 |
| Households: | 10,518 | 75,389 | 180,354 |
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