Multi-Family Package Mid-City Area

Multi-Family for Sale
Catylist Listing ID: 30819913
Number of Units: 58 Units
Building Size (RSF): 1 SF
Gross Building Area: See Agent
Sale Price: $6,950,000
Unit Price: $119,827.59 Per Unit
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/28/2022

Overview / Comments

All the pieces are in place for a stress-free income-producing, multi-unit apartment “complex” opportunity. Have a completely turn-key business with management team already there. No transition is needed. Excellent for a 1031 or a SPAC or an individual looking for a passive or partially active investment.
These units are centrally located on beautiful S. Norman C Francis Pkwy. (formerly S. Jefferson Davis Pkwy.).

In business since 1986, consists of 11 apartment buildings, with 58 units, large 2-story garage, and a small laundromat, all within a three block area fronting on the East side of Norman C. Francis Pkwy. All units are within 2 1/2 blocks of Canal St., New Orleans’ main thoroughfare. A laundromat is located on the premises. The property manager is across the street at 239 S. Norman C. Francis Pkwy. The location provides easy access to public transportation either by streetcar or bus and available within 2 blocks on Canal St. or 3 blocks on Tulane Ave.

Primary Management Services, Inc. manages the units. Having a location located directly across the street allows PMS to actively manage the property easily, immediately handle any tenant problems and enjoy contact-less payment of rent through a walk-up bank window.

Maintenance and minor repairs: (leaky toilets, broken windows, etc.)
Owner is only responsible for major repairs and cost of materials.
There are no additional management fees for new rentals, evictions, etc

PMS keeps a good relationship with the tenants, with timely repairs and pleasant atmosphere. It is in a position to work with them best to maximize income. If an eviction is necessary, PMS hands out notices timely, files in court, attends court, and handles each eviction in the most expeditious manner. This saves the owner unnecessary loss of rent..

.Call agents for more information.

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41209031

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 29,118 199,517 386,936
Median Age: 32.92 36.68 37.24
Households: 11,239 87,751 166,621

Contact

Photograph of Listing Agent

Michael D D'Amico

Property One Inc. Mandeville Metairie, LA 70002
LACDB Member
Photograph of Listing Agent

Matt Taylor

Property One Inc New Orleans Metairie, LA 70002
LACDB Member
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