4415 Wilson Ave New Orleans, LA 70126
- Apartment buildings
- 8,360 SF
Current Use by Public Records
- Apartment buildings
Property Details for 4415 Wilson Ave
- Property size
- 8,360 SF
- Property type
- Apartment buildings
Description
This meticulously maintained, 12-unit apartment building in New Orleans, LA, presents a compelling value-add investment opportunity. Located at 4415 Wilson Ave, in the C-1 General Commercial District (APN: 39W908716), this property boasts 8,360 square feet on a 13,986 square foot lot and features two 2-story buildings. The complex underwent a complete renovation in 2019, including new electrical, plumbing, roofing, and windows, ensuring minimal maintenance needs. Currently generating a Net Operating Income (NOI) of $106,151, representing a 10.74% capitalization rate, and an asking price of $988,000 ($188/sq ft), this property offers a strong return on investment. The 12 units (3-bedroom and 2-bedroom layouts) are individually metered for efficient utility management. The property includes 16 off-street parking spaces and an on-site coin laundry. With a current occupancy rate of 91.66%, there is potential for increased revenue by filling the single vacant unit. This turnkey investment is ideal for both experienced and new investors seeking a stable income stream with significant growth potential. The property is zoned C-1, offering flexibility for future development.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans Parish
- State
- Louisiana
- Longitude
- -89.9987
- Latitude
- 30.0138
