Address: 3839-3841 Ulloa Street, New Orleans, LA 70119
Investment opportunity in a 20-unit apartment complex in New Orleans with a total building area of 13,428 sq ft, built in 1970 and renovated over the years. The complex consists of four efficiency units and sixteen 1 Br/Ba units with standard interiors, including ceramic tile flooring, painted sheetrock walls, full kitchen, and one bathroom. Exterior finishes are hardie board siding with concrete block walls and a flat built-up roof. The property features a gated concrete paved parking lot accommodating up to 23 vehicles, outdoor staircases leasing to the second-story units, and coin-based laundry machines in common areas. The property is in good condition and offers consistent rental income, with upside potential, in a prime location.
Price: $1,950,000 | $154.22 PSF
Cap Rate: 6.13% (current w/ 1 vacancy)
Gross Building Area: +/- 13,428 SF
Unit Count: 20 Units
Site Size: +/- 14,307 SF
Parking: 23 Parking Spaces
Zoning: HU-MU | Historic Urban Neighborhood Mixed-Use District
Please contact Gordon McLeod 504-717-3648 or Cameron Griffin 504-535-5680 for further details
