8019 Trapier Ave, New Orleans, LA 70127

$2,800,000
62,685
SqFt

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List Price
$2,800,000
MLS#
2542902
Status
ACTIVE
Type
Commercial
Stories
3
Acres
1.75
Living Area
62,685
Parish
Orleans

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.

Additional Information

Sewer
Public Sewer
Water
Public

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