Active For Sale Investment

65 Unit Value Add - $43k per unit

8019 Trapier Ave, New Orleans, LA, 70127

ID fcc001a1

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Overview

*Seller open to Bond for Deed with 25% down, terms negotiable*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 substantial value-add potential. 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. OWNER HAS COMPLETED ALL REPAIRS (EXCEPT FOR 3 DOWN UNITS THEY ARE NOT REHABBING) AND NOW REMAINING UNITS ARE LEASING UP. OCCUPANCY NOW AT 74% AND CLIMBING.

Additional Information

City
New Orleans
State
LA
Zip Code
70127
Primary Uses
Investment
Zoning
S-RM2
Zoning Description
Suburban Multi Family Residential District
Building Name
Lakeside Apartments
Building Class
C
Year Built
1,981
Gross Income
$0
NOI
$0
Pro Forma NOI
$0
Total Expenses
$279,805
Average Occupancy Rate
74%

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