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Listed byBridgewater Realty Advisors • Bryce A Danna-Marullo • 504-901-0463
$999,000
Est. payment /mo
16 Beds
16 Baths
6,600 SqFt
Active
2808 JOSEPHINE ST New Orleans, LA 70113
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Key Details
Property Type Other Types
Sub Type Multifamily 5+
Listing Status Active
Purchase Type For Sale
Square Footage 6,600 sqft
Price per Sqft $151
MLS Listing ID 2582319
Style Other
Bedrooms 16
Full Baths 16
HOA Y/N No
Year Built 1973
Lot Dimensions 9600
Property Sub-Type Multifamily 5+
Source ROAM MLS
Land Area 6600
Property Description
Excellent opportunity to acquire a 16-unit multifamily investment property at 2808–2822 Josephine Street in New Orleans, offering an attractive combination of existing rental income, immediate lease-up potential, and a compelling rent-to-purchase-price ratio rarely found in today's market. The property consists of four separate buildings, each containing four residential units, with a mix of compact studio/one-bedroom layouts. Currently, 12 of the 16 units are occupied, providing an established income stream while offering a new owner the opportunity to implement new property management, lease the remaining four vacant, rent-ready units, and maximize the property's earning potential. The property serves the affordable housing market, with low-income rental subsidies contributing to its investment appeal. Once the remaining units are leased, the projected gross rental income totals approximately $18,350 per month (shown above), or $220,200 annually, representing an exceptionally attractive income opportunity relative to the asking price.
Location
State LA
County Orleans
Interior
Cooling Window Unit(s)
Fireplace No
Exterior
Garage Spaces 3.0
Utilities Available Natural Gas Available
Total Parking Spaces 3
Garage No
Building
Lot Description Other
Foundation Raised
Water Public
Architectural Style Other
New Construction No
Others
Tax ID per assessor
Virtual Tour https://www.propertypanorama.com/instaview/roam/2582319
