3221 Louisiana Avenue Pkwy, New Orleans, LA 70125

This bank-owned, three-unit multifamily property located at 3221 Louisiana Ave Pkwy, New Orleans, LA 70125 presents a compelling value-add investment opportunity. The property, a three-story building totaling 3,153 square feet, comprises three units: two three-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit. Currently, two of the three units are occupied, achieving a 66% occupancy rate. The three-bedroom units each command a monthly rent of $1,150, while the two-bedroom unit is currently vacant. The property underwent renovations in 2012 and is classified as Class C. The asking price is $330,000, translating to $110,000 per unit and $104.66 per square foot. Situated in Orleans Parish, this property is located in an AE Flood Zone. This presents a strong potential for increased rental income through lease-up of the vacant unit and potential future improvements, making it an attractive investment in the desirable Uptown New Orleans area. The property is bank-owned and offers significant upside potential for the savvy investor.