8816 Spruce St New Orleans, LA 70118

Listing Agency Bridgewater Realty Advisors m***@bridgewater.realty Show Phone

Listed by Bryce Marullo · License #LA 995705186

Source Crexi

Added: Nov 1, 2024 Checked: Jul 17 at 9:25 am

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Investment Insights

Based on property information with market context.

Located in the rapidly-growing Leonidas/Carrollton neighborhood, this multifamily property at 8816-26 Spruce Street features six units. The property is comprised of two buildings, a four-plex and a duplex, each with its own individual tax parcel. All units are currently 100% occupied, with rents at $950 per month. The property is in excellent condition and offers potential for increased rental income. Similar 2-bed/1-bath units in the area can conservatively obtain rents of $1,100 per month, potentially bringing the total monthly rental income to $6,600. All of the units are separately metered for water and electricity, with tenants responsible for all utilities.

Key Highlights

• 100% Occupied, providing immediate rental income.
• Significant rental upside potential up to $1,100/unit.
• Favorable residential 1‑4 investment financing is available.

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FAQs

What type of property is this?

Apartment building - Six-unit property with rental upside in growing neighborhood.

Where is this apartment building located?

The property is located at 8816 Spruce St New Orleans, LA.

What is the asking price?

The asking price for this property is $515,000.

What are key features of this property?

This property features: 100% Occupied, providing immediate rental income.; Significant rental upside potential up to $1,100/unit.; Favorable residential 1‑4 investment financing is available.