8816 Spruce Street
New Orleans, LA 70118
- 12 beds
- 6 baths
- 4,547 sqft
- $131 per sqft
- 1992 build
8816-26 Spruce Street is a 6-unit multifamily property located in the rapidly-growing Leonidas/Carrollton neighborhood, just blocks away from the Carrollton Avenue and S. Claiborne Avenue. The property is in excellent condition and has major upside potential in rents as the current owner favored maintaining relationships with long term tenants. Rents for 2 bed/1 bath units in this area in similar condition and size can obtain a rental amount of $1,100 per month conservatively. This would bring the potential rental income to $6,600 per month. There are two (2) buildings included in the overall property that each have their own individual tax parcel, a four-plex and a duplex. This allows for a buyer to obtain residential 1-4 investment financing which is favorable compared to commercial 5+ financing. All of the units are separately metered for water AND electricity. The tenants are responsible for all utilities, which brings down overall costs and greatly enhances the value of the asset.
Listing courtesy of GSREIN / Bridgewater Realty Advisors, LLC
Last checked:
Checking…
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Last updated Dec 19, 2024
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MLS# 2474068 —
The Building
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Year Built:1992
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Construction Materials:Frame, Stucco
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Architectural Style:Traditional
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Building Area Source:Measured
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Roof:Asphalt, Shingle
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Foundation:Slab
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Levels:Two
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Stories:2
Interior
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Living Area:4547
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Living Area Source:Measured
Location
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Cross Street:Spruce, Cohn
The Property
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Parcel Number:716302810
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Property Type:Residential Income
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Property Subtype Additional:Apartment
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Property Subtype:Apartment
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Property Condition:Very Good Condition
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Lot Features:City Lot, Oversized Lot
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Lot Size Dimensions:9000
Listing Agent
- Contact info:
- Agent phone:
- (504) 901-0463
- Office phone:
- (504) 901-0463
Beds
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Bedrooms Total:12
Baths
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Full Baths:6
The Listing
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Current Price:$599,000
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Special Listing Conditions:None
Heating & Cooling
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Heating:Central
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Heating:Yes
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Cooling:Central Air
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Cooling:Yes
Utilities
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Sewer:Public Sewer
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Water Source:Public
Parking
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Parking Features:Off Street
Extra Units
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# of Units Total:6
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
10/30/24
Oct 30, 2024
|
Listed / Active | GSREIN | $599,000 |