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    Multifamily Property in Leonidas/Carrollton Title is generated by Realmo AI

    8816 Spruce St, New Orleans, LA 70118

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    Six-unit property with rental upside in growing neighborhood.

    Type:Multifamily
    Added:
    Nov 1, 2024
    Days on Market:
    580
    Last Refresh:
    May 12 at 9:20 pm

    Property Features for 8816 Spruce St

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

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    Listing Contact
    Bryce Marullo

    Listing agent Bryce Marullo License #LA 995705186

    Listing office Bridgewater Realty Advisors

    Listing date Nov 1, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Bridgewater Realty Advisors

    HighLights

    • 100% Occupied, providing immediate rental income.
    • Significant rental upside potential up to $1,100/unit.
    • Favorable residential 1‑4 investment financing is available.
    • Tenants cover all utilities.
    • Located in the rapidly growing Leonidas/Carrollton neighborhood.
    • Property is in excellent condition.

    Overview

    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 Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.1300394
    Latitude
    29.957941

    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.
    More about this property
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