100% Occupied Multi-Family/Industrial Property for Sale

Multi-Family for Sale
Also listed as Industrial, Special Purpose
Catylist Listing ID: 30655353
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Mixed Use, Other
Number of Units: 6 Units
Building Size (RSF): 12,000 SF
Gross Land Area: 20,900 SF
Sale Price: $1,250,000
Unit Price: $208,333.33 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.26%
Last Updated: 10/21/2020

Overview / Comments

1108 Lance Street is a 100% occupied, 12,000 SF multi-family/warehouse property in Jefferson, LA. The property consists of a 4,700 SF 3-unit apartment building adjacent to a 7,500 SF 3-unit warehouse building. The warehouse is broken into two 3,200 SF units along with a separate 900 SF upstairs apartment unit. The property also comes with excess land that is secured by a gate and fencing and could be used as lay down yard. This property is ideal for an investor or owner/user. Apartments could be converted to additional office. Each tenant originally signed one year leases, and are now month-to-month.

NOI = $90,800

Owners pays taxes, insurance and lawn maintenance

Unit A - Apt.
Rent - $1,000/month
Sq ft - 1,100
Bed/ bath - 2/1

Unit B - Apt.
Rent - $1,000/month
Sq ft - 1,100
Bed/bath - 2/1

Unit C - Apt.
Rent - $1,100/month
Sq ft - 2,500
Bed/bath - 4/1

Unit D - Warehouse
Rent - $2,000/month
Sq ft - 3,200
1 office/1 bath/1 grade level 12'x14' roll-up door

Unit E - Apt.
Rent - $850/month
Sq ft - 900
Bed/bath - 2/2

Unit F - Warehouse
Rent - $2,000/month
Sq ft - 3,200
1 office/1 bath/2 grade level 12'x14' roll-up doors

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Jefferson
Submarket/Township: Airport-Metairie-Kenner
Tax ID/APN: 124421
Zoning: M-1
Percent Occupied: 100%
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 2
Construction/Siding: Metal Siding
Parking Type: Surface
Zoning Description: Light Industrial

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,990 170,022 399,222
Median Age: 38.63 37.12 38.69
Households: 5,683 74,008 173,325


Photograph of Listing Agent

Lance Ginn

Beau Box Commercial Real Estate New Orleans New Orleans, LA 70112
LACDB Member
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