7710 Coronet CtNew Orleans, LA 70126

This exceptional investment opportunity presents a fully renovated 12-unit apartment complex situated at 7710-60 North Coronet Court in New Orleans, Louisiana. The property boasts three two-story buildings, each housing four units, totaling 15,156 net rentable square feet on a 21,018 square foot lot. Constructed in 1977 and extensively renovated in 2022, this Class B multifamily property offers a compelling blend of established income and future growth potential. Each of the twelve units features approximately 1,263 square feet of living space, including three bedrooms and 2.5 bathrooms. Currently operating at 85% occupancy, the property generates a substantial net operating income (NOI) of $94,041, exceeding the 1% rule with a current monthly income surpassing $13,000. The pro-forma NOI is projected at $123,877, reflecting a potential for increased profitability. The asking price is $1,165,000, representing a current cap rate of 8.07% and a pro-forma cap rate of 10.63%. Seller financing is available. This stabilized investment presents a rare opportunity in the New Orleans East market, given the scarcity of comparable fully renovated three-bedroom, 2.5-bathroom apartments. The property's strong cash flow and high demand make it an ideal addition to any multifamily portfolio.