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$ 999,000
Est. payment /mo
New
2808 22 JOSEPHINE ST New Orleans, LA 70113
16 Beds
16 Baths
6,600 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 6,600 sqft
Price per Sqft $151
MLS Listing ID 2582319
Style Other
Bedrooms 16
Full Baths 16
Construction Status Average Condition
HOA Y/N No
Year Built 1973
Property Sub-Type Apartment
Property Description
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.
Location
State LA
County Orleans
Interior
Heating Window Unit
Cooling Window Unit(s)
Fireplace No
Exterior
Parking Features Three or more Spaces
Water Access Desc Public
Roof Type Shingle
Building
Lot Description 1 to 5 Acres, City Lot, Rectangular Lot
Entry Level One
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories One
Construction Status Average Condition
Others
Tax ID per assessor
Special Listing Condition None
Listed by Bridgewater Realty Advisors, LLC
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