$1,165,000 Price Analysis    ♡   New Orleans, LA 70126 36 bed 36 bath 15,156 SqFt ($76/SqFt) 0.48 acre lot. Built 1974 Listed 2024-01-17 | Ⓧ USDA Ineligible due to price & location near New Orleans |
5.00% INTEREST RATE SELLER FINANCING availabl.
Reach out for additional terms. $16, 800 per month in potential gross income - all 3 bed 2.5 bath units renting for max $1, 400/mo each. Ten out of twelve units occupied. Fully renovated 12-unit apartment complex at 7710-60 North Coronet Court in Pristine Orleans, LA, offers a lucrative opportunity with a potential monthly rent of $16, 800, ensuring a robust and immediate cashflow.
The current monthly income of $13, 307 supasses the 1% rule. The property contains three (3) fully renovate d, 2-story buildings that each contain four (4) units. Each unit is approximately 1, 263 sf and contains 3 bedrooms and 2.5 bathrooms. There are few properties in the New Orleans East market that offer fully renovated 3 bedroom 2.5 bathroom apartments, making this a highly sought after destination for tenants. Overall, thisis a solid investment opportunity with high inplace cash flow and a fantastic addition to a multifamily portfolio.
Presented by Bryce A Danna-marullo at
Bridgewater Realty Advisors, LLC.
Property MLS #2430142 from NewOrleans
Full Bathrooms: 24
1/2 Bathrooms: 12
Heating Features: Central
Lot Size Acres: 0.4825069
Lot Size Dimensions: 21018
Lot Size Square Feet: 21018
Garage Description: 3 or more, Lot, Off Street Parking
County: Orleans
Source Property Type: Multi-Family
Property Subtype: Apartment Complex
Source System Name: C2C
$1,165,000
NewOrleans
Listed 2024-01-17
$1,265,000
NewOrleans
Year Built: 1974
Building Exterior Type: Brick, Siding
Foundation Details: Slab
Property Age: 50
Property Condition: Renovated cosmetic changes of at least 50% total living area - i.e. paint
Roof: Flat
Levels or Stories: 2.00000
Year Built Details: Resale, Renovated cosmetic changes of at least 50% total living area - i.e. paint
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.