$999,000

Apartment In New Orleans

  • 16 Beds
  • 16 Baths
  • 6,600 Sqft
  • Updated: October 20
  • Source:
    Gulf South Real Estate Information Network (GSREIN)  MLS#2582319

About the Property

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 compa
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.
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  • Property type

    Apartment

  • Floors

    1

  • Year built

    1973

  • Price/sqft

    $151

Explore the Area

2808 22 JOSEPHINE Street, New Orleans, Louisiana, United States View on Google Maps
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Bridgewater Realty Advisors, LLC - Metairie

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Bridgewater Realty Advisors, LLC - Metairie
Louisiana, United States
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33
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2025
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Bridgewater Realty Advisors, LLC - Metairie
Metairie, Louisiana, United States
View agency profile
Last updated
October 20
First listed
October 20
Listing reference
2582319
Listing status
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