University area 14 unit complex with 2-3 buildable lots!

Multi-Family for Sale
Catylist Listing ID: 30836071
Property Subtypes: Low-Rise/Garden
Number of Units: 14 Units
Building Size (RSF): 8,158 SF
Gross Land Area: 14,375 SF
Sale Price: $1,750,000
Unit Price: $125,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Average Occupancy Rate: 100
Last Updated: 3/20/2023

Overview / Comments

Rare opportunity to purchase a University/Carrollton 14 unit complex with 3 extra lots for future development! The complex was renovated from the ground up in the 2010's with all new framing, electrical, plumbing, HVAC's, siding, porches, & roofs & is in excellent condition.

Current rent of $13,700 with additional laundry and parking income. There is room for value add with upgraded appliances & rent escalations but the hard work is done. Buildings have low maintenance exteriors & are located in a high demand rental area that still has room for growth.

8525 Hickory also for sale located across the street for $775,000. $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.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 716208219
Zoning: RD-2
Total Number of Buildings: 2
Property Condition: Excellent
Number of Stories: 2
Year Built: 1960
Year Renovated: 2011
Parking Type: Surface
Laundry: Shared
Heat Source: Central
Zoning Description: RD-2
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,224 170,210 414,298
Median Age: 32.62 36.96 38.43
Households: 10,234 74,191 179,827


Photograph of Listing Agent

Peter B Gardner

Keller Williams Realty New Orleans New Orleans, LA 70118-1022
LACDB Member
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