Catylist ID:
#30819913
| 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 |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/26/2023 |
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 |
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
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