6745 Cindy Pl New Orleans, LA 70127-2968

This exceptional 14-unit apartment complex in New Orleans, Louisiana, presents a compelling value-add investment opportunity. Located at 6745 Cindy Pl, 70127, this property comprises three, two-story buildings totaling 7,125 square feet, offering fourteen one-bedroom, one-bathroom units. Recently renovated in 2023, the complex boasts pitched shingle roofs and on-site parking for eleven vehicles. Currently in the lease-up phase, units are leasing swiftly at an average monthly rent of $1,002, demonstrating strong market demand. The property offers a current NOI of $101,587 and a pro-forma NOI of $140,987, translating to a current cap rate of 13.55% and a pro-forma cap rate of 21.72%. The asking price is $649,000, representing a price per unit of $46,357.14 and a price per square foot of $91.09. This asset presents a high cash flow potential within a market experiencing significant demand for affordable housing. Detailed financial information is available upon request. The property is classified as a Class B multifamily investment.