6782 Bundy Rd New Orleans, LA 70127
- Apartment buildings
- 48,160 SF
- 3.02 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 6782 Bundy Rd
- Year built
- 1980
- Lot size
- 3.02 lot acres
- Property size
- 48,160 SF
- Property type
- Apartment buildings
Description
This exceptional value-add opportunity presents a 48-unit apartment complex in New Orleans, Louisiana, listed at $2,350,000. The property, situated on a 3.02-acre lot at 6782 Bundy Rd, 70127, comprises 24 single-story buildings totaling 48,160 square feet. Built in 1980 and renovated in 2017, the complex features a mix of unit types: 33 three-bedroom/two-bathroom units, 13 two-bedroom/one-bathroom units, one one-bedroom/one-bathroom unit, and one efficiency. The property boasts a unit price of $48,958.33, with a price per square foot of $48.80. Currently operating at 64% occupancy, this presents a significant opportunity to increase revenue. Conveniently located with easy access to I-10 and Lake Forest Blvd, the property is zoned C-2 and situated in an X500 flood zone. All units are currently government subsidized. The property is undergoing ongoing renovations and updates to enhance its investment grade. This is an ideal investment for those seeking to capitalize on a strong rental market and add value to an existing property. The property's location and unit mix offer a compelling investment proposition.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans Parish
- State
- Louisiana
- Longitude
- -89.9845
- Latitude
- 30.0313
