Proven Income Producer

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30754700
Property Subtypes: Low-Rise/Garden, Other
Status: Pending/Contingent
Number of Units: 6 Units
Building Size (RSF): 2,700 SF
Gross Building Area: 2,714 SF
Gross Land Area: 4,000 SF
Sale Price: $550,000
Unit Price: $91,666.67 Per Unit
Property Use Type: Investment
Usable Size (USF): 2,700 SF
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 95
Last Updated: 8/26/2021

Overview / Comments

Well maintained 6-plex with new roof (2020). A mix of subsided housing tenants and easily rented. Half of the tenants have occupied 3+ years. Brick exterior and separate electric and gas meters. Owner pays water. Gross annual rental income is $65,000.00.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41133164
Percent Occupied: 85%
Property Located Between: Spruce and Cohn
Area Description: Leonidas area is seeing increased expansion in new construction and area renovations including the opening of the new Lycee Francias School (2022) at the former Priestley Junior High School.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1960
Year Renovated: 2012
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick exterior with metal balcony and exterior stairs servicing second floor.
Parking Type: Surface
Parking Description: Lot
Total Parking Spaces: 5
Sprinklers: None
Heat Type: Natural Gas, Space Heaters
Heat Source: Wall Units
Air Conditioning: Window Unit
Interior Description: Six one bedroom units with a combination of laminate and tile floors, furnished kitchens.
Zoning Description: HU-RD2
Lot Frontage: 40'
Lot Depth: 100'
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Owned
Legal Description: SQ.260, FRONT PT LOTS 16-17

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,243 173,402 411,432
Median Age: 33.9 36.87 38.5
Households: 10,354 75,847 178,753

Contact

Photograph of Listing Agent

George T Williamson

Williamson Brothers Realty New Orleans, LA 70115
LACDB Member
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