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Listed byBridgewater Realty Advisors • Bryce A Danna-Marullo • 504-901-0463
$ 2,800,000
Est. payment /mo
Pending
8019 Trapier AVE New Orleans, LA 70127
62,685 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Commercial
Listing Status Pending
Purchase Type For Sale
Square Footage 62,685 sqft
Price per Sqft $44
MLS Listing ID 2542902
HOA Y/N No
Year Built 1981
Lot Size 1 Sqft
Acres 1.75
Lot Dimensions 79550
Property Sub-Type Commercial
Source ROAM MLS
Land Area 62685
Property Description
*Seller will consider 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 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
Area 1.75
Zoning Sb-2
Interior
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Natural Gas Not Available
Garage No
Building
Water Public
New Construction No
Others
Tax ID 39W000632
Virtual Tour https://www.propertypanorama.com/instaview/roam/2517176
