New price for 3106-10 Independence Street, a value add multi-family property located in Metairie, LA. This property consists of 12 total units with 4 three bedrooms two bathrooms and 8 studios. 10/12 occupied with actual gross monthly income of $9050. Metairie is a highly desirable market for both renters and investors alike. Multifamily properties in Metairie generally experience lower turnover and rent out extremely quick and 3106-10 Independence Street is no exception. Currently, rents are positioned below the local market rates, leaving room for a new owner to strategically increase rental income without the need for extensive renovations. Some differed maintenance items will allow the new owner to capitalize on top market rates, projecting to add $1,800 in gross monthly rent. Additionally, the new renovations nearby at Clearview Mall corridor including new multifamily units should continue to increase the value in the surrounding area. For added convenience, ample off-street parking is available in the rear of the building, eliminating the hassle of finding a parking spot and enhancing the overall living experience. In sum, 3106-10 Independence Street represents an extraordinary investment prospect, offering a harmonious blend of location, potential, and quality, making it an ideal addition to your real estate portfolio.

Listing courtesy of GSREIN / Bridgewater Realty Advisors, LLC

Last checked: Checking… • Last updated Dec 7, 2024 • Source: GSREIN

MLS# 2421110 — Report a problem