2808 Josephine St

New Orleans LA 70113

6600 sq. ft.

Apartment

Currently for sale - view listing

Overview

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.

Features

16 bedrooms

16 bathrooms

3 carspaces

6600 sq. ft. floor area

Apartment

Property history for 2808 Josephine St

2019

Sold

Undisclosed

03 Apr 2019 by BYRON FAZANDE, of Quality One Realty

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