8816 Spruce St New Orleans, LA 70118
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High-yield multifamily property with upside.
Property Features for 8816 Spruce St
General Information
- Property type
- Multifamily properties
- Class
- B
Building Details
- Stories
- 2
- Units
- 6
Listing Agency: Bridgewater Realty Advisors Listing Agent: Mason Mccullough
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional 6-unit multifamily property, located at 8816 Spruce St, New Orleans, LA 70118, presents a compelling investment opportunity. The property consists of two buildings – a four-plex and a duplex – each with its own tax parcel, facilitating favorable residential 1-4 financing. Currently boasting 100% occupancy and a strong NOI of $55,822, this Class B apartment building offers a 9.32% cap rate. All six units are separately metered for water and electricity, minimizing operational costs and maximizing tenant responsibility. Situated in the rapidly developing Leonidas/Carrollton neighborhood, close to Carrollton and Claiborne Avenues, the property benefits from its prime location. Significant rental upside potential exists
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans Parish
- State
- Louisiana
- Longitude
- -90.129924181725
- Latitude
- 29.958007219018
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FAQs
What type of property is this?
Multifamily property - High-yield multifamily property with upside.
Where is this multifamily property located?
The property is located at 8816 Spruce St New Orleans, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Exceptional 6-unit multifamily investment opportunity in New Orleans' Leonidas/Carrollton neighborhood.; Property comprises a four-plex and a duplex on separate tax parcels, qualifying for favorable residential financing.; Currently 100% occupied with a strong NOI of $55,822 and a 9.32% cap rate.
