6782 Bundy RdNew Orleans, LA 70127

This exceptional value-add opportunity presents a 48-unit apartment complex in New Orleans, Louisiana, listed at $2,350,000. The property, situated on a 3.02-acre lot at 6782 Bundy Rd, 70127, comprises 24 single-story buildings totaling 48,160 square feet. Built in 1980 and renovated in 2017, the complex features a mix of unit types: 33 three-bedroom/two-bathroom units, 13 two-bedroom/one-bathroom units, one one-bedroom/one-bathroom unit, and one efficiency. The property boasts a unit price of $48,958.33, with a price per square foot of $48.80. Currently operating at 64% occupancy, this presents a significant opportunity to increase revenue. Conveniently located with easy access to I-10 and Lake Forest Blvd, the property is zoned C-2 and situated in an X500 flood zone. All units are currently government subsidized. The property is undergoing ongoing renovations and updates to enhance its investment grade. This is an ideal investment for those seeking to capitalize on a strong rental market and add value to an existing property. The property's location and unit mix offer a compelling investment proposition.