$2,800,000
Active
62,685
SqFt
1981
Built
*Seller will consider Bond for Deed with 25% down, terms negotiable*
Situated in the heart of the New Orleans East neighborhood, this 65-unit apartment complex offers a prime workforce and affordable housing investment opportunity with value-add potential by leasing last remaining vacant/rent ready units and repairing 3 down units. The portfolio consists of two well-positioned properties: 8019 Trapier, encompassing 48 units, and 9500 Hayne, comprising 17 units. The buildings can be purchased together or separately as a 48 and 17 unit complex. Will produce over $60,000 per month in gross rental income once fully leased and stabilized. Owners have completed all outstanding repairs since original list date (except for 3 down units they are not repairing) and currently in the midst lease-up, the occupancy went from 48% to 74% in a matter of months.
*Seller will consider Bond for Deed with 25% down, terms negotiable*
Situated in the heart of the New Orleans East neighborhood, this 65-unit apartment complex offers a prime workforce and affordable housing investment opportunity with value-add potential by leasing last remaining vacant/rent ready units and repairing 3 down units. The portfolio consists of two well-positioned properties: 8019 Trapier, encompassing 48 units, and 9500 Hayne, comprising 17 units. The buildings can be purchased together or separately as a 48 and 17 unit complex. Will produce over $60,000 per month in gross rental income once fully leased and stabilized. Owners have completed all outstanding repairs since original list date (except for 3 down units they are not repairing) and currently in the midst lease-up, the occupancy went from 48% to 74% in a matter of months.
LISTING SNAPSHOT
Price$2,800,000
Bedrooms0
Full Baths0
Half Baths0
Inside Area (SqFt)62,685 sqft
Lot Size1.75 Acres
Year Built1981
MLS® NumberN/A
StatusActive
Property TaxN/A
HOA/Condo/Coop FeesN/A
Listing courtesy of Bridgewater Realty Advisors, LLC
Comps
An estimate is not available for this listing.
Want to see Our Guess?
Create a free account to unlock our estimated home value for this listing.
Similar Listings Nearby
Active
$2,800,000
5033 FRERET Street, New Orleans, LA 70115
Active
$2,795,000
1905 S CARROLLTON Avenue, New Orleans, LA 70118
Active
$2,750,000
717 CAMP Street, New Orleans, LA 70130
Active
$2,800,000
8019 TRAPIER Avenue, New Orleans, LA 70127
Active
$2,800,000
909 URSULINES Avenue, New Orleans, LA 70116
Active
$2,800,000
908 ST LOUIS Street, New Orleans, LA 70112