8816 Spruce St New Orleans, LA 70118
Six-unit property with rental upside in growing neighborhood.
Type:Multifamily
- Added:
- Nov 1, 2024
- Days on Market:
- 535
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 8816 Spruce St
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agent Bryce Marullo License #LA 995705186
Listing office Bridgewater Realty Advisors
Listing date Nov 1, 2024
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Bridgewater Realty Advisors
Overview
Multifamily Property in Leonidas/Carrollton
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.1300394
- Latitude
- 29.957941
Nearby Similar for Sale
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 $550,000.
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.
