3312 Joliet Street, New Orleans
$1,980,000
Only 18 units remaining in the original 25-unit portfolio located close to S. Carrollton Avenue and Earhart Blvd intersection in New Orleans, LA. The 100% occupied community offers Eighteen (18) well maintained & renovated units amongst 9 buildings on the same block. There is also a value add opportunity to develop an additional 28,949 sf of land within the block, which includes land owned by the seller as well as a parcel of land that would have to be purchased from the city.
The property is in an X flood zone, new central HVAC units added in 2018-2019 to all units, and several updates have been made to the property. The property boasts a high occupancy rate and many tenants have been there for several years, decreasing turnover costs. Total site size of the entire portfolio is 65,456 square feet or 1.5 acres.
This presents an excellent investment opportunity for local, regional and national investors alike who are looking to expand their New Orleans footprint. Properties can be purchased as a portfolio or can be purchased individually as well.
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