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$ 365,000
Est. payment /mo
Active
8816 SPRUCE ST New Orleans, LA 70118
8 Beds
4 Baths
2,852 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,852 sqft
Price per Sqft $127
MLS Listing ID 2499765
Style Other
Bedrooms 8
Full Baths 4
Construction Status Very Good Condition
HOA Y/N No
Year Built 1980
Property Sub-Type Quadruplex
Property Description
8816 Spruce Street is a 4-unit multifamily property located in the rapidly-growing Leonidas/Carrollton neighborhood, just blocks away from the Carrollton Avenue and S. Claiborne Avenue. The property is in excellent condition and has major upside potential in rents as the current owner favored maintaining relationships with long term tenants. This property must be purchased with 8824 Spruce St next door which is a duplex (MLS #2499767).
There are two (2) buildings included in the overall property that each have their own individual tax parcel, a four-plex and a duplex. This allows for a buyer to obtain residential 1-4 investment financing which is favorable compared to commercial 5+ financing. Also an option to obtain an FHA loan on one building and a conventional loan on the other.
All of the units are separately metered for water AND electricity. The tenants are responsible for all utilities, which brings down overall costs and greatly enhances the value of the asset.
There are two (2) buildings included in the overall property that each have their own individual tax parcel, a four-plex and a duplex. This allows for a buyer to obtain residential 1-4 investment financing which is favorable compared to commercial 5+ financing. Also an option to obtain an FHA loan on one building and a conventional loan on the other.
All of the units are separately metered for water AND electricity. The tenants are responsible for all utilities, which brings down overall costs and greatly enhances the value of the asset.
Location
State LA
County Orleans
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features Parking Lot, Three or more Spaces
Water Access Desc Public
Roof Type Asphalt,Shingle
Building
Lot Description City Lot, Rectangular Lot
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories Two
Construction Status Very Good Condition
Others
Tax ID per assessor
Special Listing Condition None
Listed by Bridgewater Realty Advisors, LLC