4415 Wilson AveNew Orleans, LA 70126

Property Details for 4415 Wilson Ave

Property size (Sq ft)

8,360 SF

Property type

Apartment buildings

Description

This meticulously maintained, 12-unit apartment building in New Orleans, LA, presents a compelling value-add investment opportunity. Located at 4415 Wilson Ave, in the C-1 General Commercial District (APN: 39W908716), this property boasts 8,360 square feet on a 13,986 square foot lot and features two 2-story buildings. The complex underwent a complete renovation in 2019, including new electrical, plumbing, roofing, and windows, ensuring minimal maintenance needs. Currently generating a Net Operating Income (NOI) of $106,151, representing a 10.74% capitalization rate, and an asking price of $988,000 ($188/sq ft), this property offers a strong return on investment. The 12 units (3-bedroom and 2-bedroom layouts) are individually metered for efficient utility management. The property includes 16 off-street parking spaces and an on-site coin laundry. With a current occupancy rate of 91.66%, there is potential for increased revenue by filling the single vacant unit. This turnkey investment is ideal for both experienced and new investors seeking a stable income stream with significant growth potential. The property is zoned C-1, offering flexibility for future development.

Location Insight

City

New Orleans

County

Orleans Parish

State

Louisiana

Latitude

30.0138

Longitude

-89.9987

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