Address: 8200 Palmetto Street, New Orleans, LA 70118
The McEnery Company is pleased to present the 327 unit Cypress Trace Apartment Community exclusively For Sale. The property is conveniently located near the most visible and highly trafficked intersection in the City of New Orleans. A true infill opportunity, the property is extremely well located and uniquely positioned near the Orleans and Jefferson parish line on its western edge, Interstate 10 to the north, Carrollton Avenue on it eastern side, and Uptown New Orleans to the south. Immediately adjacent to numerous retailers – including Costco and CVS, public transportation, and Xavier University. A scarcity of developable land and a changing municipal regulations in the recent past provide for high barriers to entry in this market. New ownership will benefit from operational improvements as well as revenue growth.
The property was built in 1973 and renovated in 2006 with all units in good operating condition. The location, condition and current price point give the property an incredible 97% occupancy, which speak to both its functional and economic growth opportunities.
Total Building SF: 317,000 SF
Total Land Size: 7.42 Acres
# of Units: 327 Units
# of Buildings: 5
Zoning: HU-RM1 Historic Urban Multi Family Residential District
For further listing information, or to schedule a showing, please contact Parke McEnery (504.236.9542) or Troy Hagstette (504.251.5719)