Address: 6711-6817 Tara Lane, New Orleans, LA 70127
The McEnery Company is pleased to present a rare opportunity to acquire this excellent apartment community. Significant existing cash flow in place with tremendous upside potential achieved through lease-up, managerial improvement and re-positioning of the unit mix. Located in the New Orleans East Sub-Market, the asset consists of Seventy-Nine (79) units currently in place. The campus consists of eight (8) individual buildings located on separate parcels of record. Current economic trends indicate an urgent and ongoing need for affordable housing units in this market. Market based pro formas are included herein; and additional information and financials available upon request.
List Price: $3,750,000
# of Units: Seventy-Nine (79) units
Total GBA: 76,600 SF (Estimate)
Total Site Size: 120,960 SF | 2.77 Acres (Per Assessor)
Avg. Unit Size: 969 SF
Rent Potential Breakdown:
One (1) Bedrooms – 22 Units | $620/month
Two (2) Bedrooms – 20 Units | $800/month
Three (3) Bedrooms – 37 Units | $1,010/month
Gross Rent Potential – $804,120/year (Pro Forma)
For further listing information, or to schedule a showing, please contact Troy Hagstette (504.251.5719)
