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    6780 Bundy Rd New Orleans, LA 70127

    For Sale
    $3,540,000

    59 Units, Bank-Owned, Value-Add Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a portfolio of 59 multifamily units spread across four complexes in desirable New Orleans, Louisiana locations. The portfolio, totaling 58,270 net rentable square feet, is currently bank-owned and offers significant value-add potential. The asking price is $3,540,000, representing a price per unit of $60,000. The largest complex, located at 6780 Bundy Rd (70127), comprises 48 units (33 three-bedroom/two-bathroom, 13 two-bedroom/one-bathroom, 1 one-bedroom/one-bathroom, and 1 efficiency) within 24 single-story buildings on a 3.02-acre lot. Built in the 1980s and renovated in 2012, this complex features 48,160 square feet and is currently 65% occupied. All units are government subsidized. Additional properties include a fourplex at 2625 Robert St (70115), a triplex at 3219 Louisiana Ave Pkwy (70125), and another fourplex at 924 Deslonde St (70117). The Robert Street and Louisiana Avenue properties are located in AE flood zones, while the Bundy Road and Deslonde Street properties are in X500 flood zones. The portfolio benefits from new property management actively leasing and repairing units, with all units being submitted for the Healthy Homes program. Financial details are available upon request. This is an ideal opportunity for investors seeking a substantial multifamily portfolio in a growing market. The properties can be purchased individually or as a package.

    Property Features for 6780 Bundy Rd

    General Information

    Property type
    Multifamily properties

    Building Details

    Buildings
    27
    Units
    59
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bundy Apartments Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -89.984186797148
    Latitude
    30.031449338074

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    FAQs

    What type of property is this?
    Multifamily property - 59 Units, Bank-Owned, Value-Add Opportunity
    Where is this multifamily property located?
    The property is located at 6780 Bundy Rd New Orleans, LA.
    What is the asking price?
    The asking price for this property is $3,540,000.
    Request Owner's contact information
    6780 Bundy Rd New Orleans, LA 70127
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    New Orleans, LA 70127
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6780 Bundy Rd New Orleans, LA 70127
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