2808 Josephine St, New Orleans, LA, 70113

For Sale

Listed by BRYCE DANNA-MARULLO

Source: Gulf South Real Estate Info Network #2582319

2808 Josephine St, New Orleans, LA, 70113

$999,000

6600 sq. ft.

Apartment

•

1 day on the market

What's around 2808 Josephine St

About this property

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.

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BRYCE DANNA-MARULLO

Bridgewater Realty Advisors, LLC

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