LA > Marrero
Marrero, LA 70072,1302 ALLO AVE
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Marrero, LA 70072,1302 ALLO AVE
Marrero, LA 70072,1302 ALLO AVE
Marrero, LA 70072,1302 ALLO AVE
Marrero, LA 70072,1302 ALLO AVE
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Pennant Real Estate

Pennant Real Estate

+1(225) 663-2112
$ 835,000
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Price Dropped by $15K

1302 ALLO AVE Marrero, LA 70072

9 Beds

9 Baths

5,131 SqFt

UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 5,131 sqft

Price per Sqft $162

MLS Listing ID 2490326

Style Traditional

Bedrooms 9

Full Baths 9

Construction Status Very Good Condition

HOA Y/N No

Year Built 1970

Lot Size 9,840 Sqft

Acres 0.2259

Property Sub-Type Apartment

Property Description

Investor Alert! Here's a rare opportunity to acquire a solid all-brick 7-unit apartment building plus a detached single-family home, delivering 8 fully rentable units with historically low vacancy. A recent $94,000 price adjustment makes this property even more attractive, and the seller will consider bond-for-deed "owner financing" with a minimum 25% down payment (what most commercial lenders would require). Flexible terms and conditions can be negotiated. Located at the corner of 13th Street and Allo Avenue, just a few blocks behind West Jefferson Medical Center, the property is surrounded by predominantly single-family homes and enjoys strong tenant demand, top-of-market rents, and steady cash flow. The main building measures approximately 4,392 sq. ft. and consists of five studios, one one-bedroom, and one two-bedroom unit, while the detached home (Unit E) adds an additional 792 sq. ft. The income is currently $6,535 per month with projected rents up to $8,000 after modest increases. Tenant amenities include balconies on second-floor apartments, central air and heat, on-site coin-operated laundry, and off-street parking. Each unit has its own electric meter (except Unit H), while water is on a single meter paid by the seller (approx. $400/month). The roof was replaced in 2021 after Hurricane Ida, and the property is located in an “X” flood zone. There is no flood insurance on the property now. The seller requests that cash buyers provide proof of funds or a letter of pre-approval for buyers obtaining a mortgage before showings. No “For Sale” sign is on the property.

Location

State LA

County Jefferson

Interior

Heating Central

Cooling Central Air

Fireplace No

Laundry Laundry Room

Exterior

Exterior Feature Balcony

Parking Features Off Street, Parking Lot

Pool None

Water Access Desc Public

Roof Type Asphalt,Shingle

Porch Balcony

Building

Lot Description Corner Lot, City Lot, Rectangular Lot

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories Two

Construction Status Very Good Condition

Others

Tax ID 0410000143

Special Listing Condition None

Gulf South Real Estate Information Network (NOMAR IDX Plus)
Listed by RE/MAX N.O. Properties
Pennant Real Estate

Pennant Real Estate

Broker

+1(225) 663-2112

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