2627 Robert StNew Orleans, LA 70115

Property Details for 2627 Robert St

Property size (Sq ft)

4,322 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional four-unit multifamily property, located at 2625-2627 Robert St in New Orleans, LA 70115, presents a compelling value-add investment opportunity. The property boasts a total of 4,322 square feet, comprised of four three-bedroom, two-bathroom units. Two units measure 1,087 square feet each, while the remaining two are slightly smaller at 1,074 square feet each. Currently, three of the four units are leased, generating a gross monthly income of $3,836. With rents significantly below market value, this presents a substantial opportunity to increase profitability. The property, built in 2012, is situated in a convenient location, steps away from Freret Street and Baptist Hospital. Each unit includes one parking space. The property is classified as a Class C building and is situated in an AE Flood Zone. The asking price is $570,000, translating to $142,500 per unit and $131.88 per square foot. The current occupancy rate stands at 75%. This two-story building offers a strong foundation for a savvy investor seeking to capitalize on the robust New Orleans rental market. The property's prime location and potential for rental income growth make it an attractive investment prospect.

Location Insight

City

New Orleans

County

Orleans Parish

State

Louisiana

Latitude

29.9384

Longitude

-90.108

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