07/22/2024
๐ฅ Off Market "21-Unit Value-Add" Apartment Building in New Orleans! ๐๏ธ
Are you ready to elevate your real estate portfolio with a potential high-yield, low-maintenance asset? Look no further!
๐ Projected Stabilized Cap Rate: 13.6%
๐ฐ Projected Value: $2.6M (Once Fully Stabilized)
๐ต Asking Price: $1.2M (CASH ONLY)
Key Highlights:
โจ Fully Remodeled Units: 16 out of 21 units have been meticulously renovated, offering modern amenities.
๐ง Minimal Additional Investment: Extensive remodeling already completed means minimal capital expenditures and quick filling of vacant units.
๐ต Strong NOI: Projected gross rents of $257,364 with NOI at approximately $163,717 (assuming 7% vacancy and current expenses) ensuring reliable cash flow.
๐ Current Occupancy: 47.6% (11 units ready to rent!)
๐ธ Current Gross Rent: $113,808
๐ข Expenses: $75,631
๐ Current NOI: $30,210
๐๏ธ Average New Orleans Market Cap (CoStar): 6.3%
๐ผ Potential Stabilized Value: $2,598,691
Why This Property?
๐ Prime Location: Located in a vibrant, growing area of New Orleans with strong rental demand and excellent occupancy rates.
๐ Forced Appreciation Opportunity: Secure a property with substantial upside potential and opportunity for consistent returns.
Contact us today to schedule a tour and learn more about this exceptional investment opportunity!
๐(248) 217-6055
๐ง [email protected]
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