Address: 1601-09 Lesseps Street, New Orleans, LA 70117
Great opportunity to purchase a fully occupied multi-family asset in the New Orleans area. The improvements consist of Two total buildings with a total of 8 fully occupied apartments. Approximately 8 total off-street parking spaces are provided for the tenants. The buildings are well maintained and have stabilized, in-place cash flow. The locations and their proximity to both the surrounding neighborhoods and the direct proximity to multiple retailers, schools and places of work provide stability and rent appreciation.
List Price: $695,000
Capitalization Rate: 8.3%(Actual) and 10.4% (Pro forma)
NOI: $57,616 Per Year (Actual) and $72,016 (Pro forma)
GBA: +/- 7,362 SF – 100%Occupancy
Total Site Size: +/- 6,696 SF
Zoning: HU-B1 – Historic Urban Neighborhood Business District
Property Mix: Two Buildings with a total of 8 units
Unit Makeup: (8) 2 bed/1 bath
Please contact Cameron Griffin at 504-535-5680 or Mason McCullough at 504-298-8631 for more information.