Catylist ID: #30047729
Large Multifamily For Sale in New Orleans East
Multi-Family for Sale
|Catylist Listing ID:||30047729|
|Number of Units:||132 Units|
|Building Size (RSF):||114,624 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||4.25 Acres|
|Sale Price:||See Agent|
|Property Use Type:||Investment|
|Building Name:||Arbors on the Lake|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||95|
Overview / Comments
Arbors on the Lake is a 132-unit gated multifamily community on secluded Hayne Blvd facing Lake Pontchartrain. The property consists of 11 total buildings spanning 4.25 acres.
Arbors underwent a complete gut renovation between 2010 and 2011, the year the property was stabilized. The asset has shown very strong historical performance since then, with occupancy averaging above 95% every year.
All units include granite countertops in kitchens and bathrooms; dishwashers; full-size built-in microwave ovens, ranges, refrigerators and freezers with ice makers; ceiling fans in bedrooms and living rooms; large walk-in closets in master bedroom; and washers/dryers.
Arbors on the Lake units are all market rate, and the property is professionally managed on-site.
With the property in excellent condition and high barriers to entry in order to develop multifamily in New Orleans East, this is an excellent opportunity for a 1031 buyer looking for a turnkey, high performing multifamily asset
Call contact listing agent for more details and to request an Offering Memorandum.
Attachments & Media
|Finance Data Year||2016|
|Net Operating Income||$628,193 (Annual)|
|Actual or Proforma Year||Actual|
|Nearest MSA:||New Orleans-Metairie|
|Submarket/Township:||Northshore / N.O. East|
|Community Amenities:||Recreation Room, Business Center, On-Site Maintenance|
|Total Number of Buildings:||11|
|Construction/Siding:||Brick/Vinyl Siding, Vinyl Siding, Wood Frame|
|Parking Description:||193 on-site surface parking spaces, or 1.5 spaces per unit.|
|Total Parking Spaces:||198|
|Laundry:||In Each Unit|
|Interior Description:||All units include granite countertops in kitchens and bathrooms, dishwashers, full-size: built-in microwave ovens, ranges, refrigerators and freezers with ice makers, ceiling fans in bedrooms and living rooms, large walk-in closets in master bedroom, and washers/dryers.|
|Proximity:||1 mile||3 miles||5 miles|
Jack EgleBeau Box Commercial Real Estate New Orleans New Orleans, LA 70130
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