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$ 929,000
Est. payment | /mo
9,920 Acres Lot
$ 929,000
Est. payment | /mo
9,920 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID NO2490326
Lot Size 9920.000 Acres
Acres 0.2277
Property Sub-Type Multi Family
Property Description
Expand your real estate portfolio with this rare multifamily investment opportunity on the Westbank, just two blocks behind West Jefferson Hospital in a neighborhood surrounded by single-family homes. This income-producing property consists of a two-story apartment building (approx. 4,392 sq. ft.) with seven units--five studios, one 1-bedroom, and one 2-bedroom--along with a detached 1-bedroom house (Unit E) of approximately 729 sq. ft. Currently 100% occupied with a historically low vacancy rate, this property provides steady cash flow. Tenant amenities include an on-site coin-operated laundry and ample parking. Each unit has a separate electric meter, while water is on a single meter, typically paid by the owner. There is no gas service to the building. The roof was replaced after Hurricane Ida, and the property is located in Flood Zone X, with no seller-held flood policy. With Section 8 rental rates offering potential for increases along with a thriving rental market, this is a strong opportunity for long-term financial gain. The seller may consider a short-term bond-for-deed with at least 50% down, and is Ideal for investors seeking a 1031 exchange to expand their multifamily holdings. Pursuant to the seller's request, pre-approved financing letter or proof of funds is required before scheduling showings. There is no for sale sign on the property.
Location
State LA
Interior
Heating Central
Cooling Central Air
Exterior
Exterior Feature Balcony
Parking Features Parking Lot
Roof Type Composition
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories 2
Others
Tax ID 0410000143
Listed by RE/MAX N.O. Properties