Address: 8520 Chef Menteur Highway, New Orleans, LA 70127
The McEnery Company is pleased to present a rare opportunity to acquire this excellent apartment community. Significant existing cash flow and with efficient management in place. Located in the New Orleans East Sub-Market, the asset contains forty-six (46) units currently in place among two (2) nicely maintained buildings. Current economic trends indicate an urgent and ongoing need for affordable housing units in this market. Market based proformas are included herein; and additional information and financials available upon request. A few of the units were renovated post Ida. The owner has been renting out the new units for over $1,000/month.
Sale Price: $2,750,000 | $59,783 Per Unit
Land Area: +/- 69,181 SF
Net Livable Area: +/- 39,000 SF
Unit Count: Forty-Six (46) 2 Bed / 1 Bath Units (Average Unit Size 850 s.f.)
Current Occupancy: 74% (34 out of 46 units rented)
Zoning: BIP – Business Industrial Park District
For further listing details please contact Cameron Griffin at 504-535-5680
