Medical District Investment 5-Plex

Multi-Family for Sale
Catylist Listing ID: 30215185
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 5 Units
Building Size (RSF): 2,600 SF
Gross Land Area: 3,875 SF
Sale Price: $412,500
Unit Price: $82,500 Per Unit
Property Use Type: Investment
Usable Size (USF): 2,600 SF
Sale Terms: Cash to Seller
Cap Rate: 7.27%
Gross Rent Multiplier: 8.49
Last Updated: 4/2/2018

Overview / Comments

At the edge of the new medical corridor, this 5-plex always stays rented. Units are spacious, clean and simple. Lower units have had some recent upgrades. Freestanding 1 bedroom cottage in rear of property.

MS zoning with HU-B1A overlay.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $1,987 (Annual)
Potential Rental Income $48,600 (Annual)
Net Operating Income $30,005 (Annual)
Gross Operating Income $46,170 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41031946
Zoning: MS, MEDICAL SERVICE DISTRICT
Percent Occupied: 100%
Property Located Between: Gravier & Tulane
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Roof Type: Gable
Sprinklers: None
Heat Type: Space Heaters
Heat Source: Radiant
Fuel: Electric
Air Conditioning: Window Unit
Lot Frontage: 30'11
Lot Depth: 132'3
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,004 205,850 409,201
Median Age: 33.05 36.22 37.17
Households: 8,515 90,738 174,349

Contact

Photograph of Listing Agent

Jonathan D Shaver

RE/MAX Commercial Brokers Inc Metairie, LA 70002
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