List Price: $2,350,000
Capitalization Rate: 8.39% (actual) | 10.68% (pro-forma)
Approximate NOI: $197,064 Per Year (actual) | $250,884 (pro-forma)
Total Combined GBA: +/- 22,254 SF – 100%Occupancy
Total Combined Site Size: +/- 37,553 SF
Zoning: HU-RM1 (Amelia Street) | HU-B1 (Lesseps Street) | R1A Single-Family Residential District (Bolo Court)
Property Mix: 28 units total:
- 2825 Amelia Street, New Orleans, LA – Approx. GBA: +/- 8,000 SF
One Building with a total of 10 units
Unit Makeup: (4) 3 bed/1 bath + (4) 2 bed/ 1 bath + (2) 1 bed/ 1 bath
- 1601-09 Lesseps Street, New Orleans, LA – Approx. GBA: +/- 7,362 SF
Two Buildings with a total of 8 units
Unit Makeup: (8) 2 bed/1 bath
- 1300 Bolo Court, Bridge City, LA – Approx. GBA: +/- 6,892 SF
One Building with a total of 10 units
Unit Makeup: (2) 3 bed/1 bath + (2) 1 bed/ 1 bath + (6) 2 bed / 1.5 bath
Overview: Rare opportunity to purchase a multi-family portfolio in the New Orleans area. The improvements consist of Four total buildings with a total of 28 fully occupied apartments. Approximately 38 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.
Please contact Cameron Griffin at 504-535-5680 or Mason McCullough at 504-298-8631 for more information.
