2 Beds
1 Bath
62,685 SqFt
2 Beds
1 Bath
62,685 SqFt
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 62,685 sqft
Price per Sqft $44
MLS Listing ID 2558562
Style Contemporary
Bedrooms 2
Full Baths 1
Construction Status Average Condition
HOA Y/N No
Year Built 1981
Lot Size 1.750 Acres
Acres 1.75
Property Sub-Type Apartment
Property Description
Situated in the heart of the New Orleans East neighborhood, this 65-unit apartment complex offers a prime workforce and affordable housing investment opportunity with value-add potential by leasing last remaining vacant/rent ready units and repairing 3 down units. The portfolio consists of two well-positioned properties: 8019 Trapier, encompassing 48 units, and 9500 Hayne, comprising 17 units. The buildings can be purchased together or separately as a 48 and 17 unit complex. Will produce over $60,000 per month in gross rental income once fully leased and stabilized. Owners have completed all outstanding repairs since original list date (except for 3 down units they are not repairing) and currently in the midst lease-up, the occupancy went from 48% to 74% in a matter of months.
Location
State LA
County Orleans
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features Parking Lot
Pool None
Water Access Desc Public
Roof Type Shingle
Building
Lot Description 1 to 5 Acres, City Lot
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Contemporary
Level or Stories Two
Construction Status Average Condition
Others
Tax ID 39W000632
Special Listing Condition None
