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$ 550,000
Est. payment /mo
New
8816-24 SPRUCE ST New Orleans, LA 70118
12 Beds
6 Baths
3,120 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,120 sqft
Price per Sqft $176
MLS Listing ID 2507535
Style Other
Bedrooms 12
Full Baths 6
Construction Status Very Good Condition
HOA Y/N No
Year Built 1960
Property Sub-Type Apartment
Property Description
All rents to $900 per month now - 100% occupied. All of the units are separately metered for water AND electricity. Each property is on separate parcel and can qualify for favorable 1-4 unit investment financing. 8816-26 Spruce Street is a 6-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. Rents for 2 bed/1 bath units in this area in similar condition and size can obtain a rental amount of $1,100 per month conservatively. This would bring the potential rental income to $6,600 per month. 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 Driveway, Off Street
Water Access Desc Public
Roof Type Asphalt,Shingle
Building
Lot Description City Lot, Oversized 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