Gentilly Rentals

6218 Arts Street, New Orleans, LA

$2,900,000

Price

6.54%

Cap Rate

$142,482

NOI

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Overview
Cap Rate
6.54%
NOI
$142,482
Building Size
34,048 sqft
Lot Area
63,404 acres
Units
28
Occupancy
90%
Year Built
1970
Zoning
RPC
Floors
2
Parking Spots
40
Heating
Central
Cooling
Central
Description

This property consists of five townhouse style apartment buildings totaling approximately 34,000 sf of building area. These five buildings are sitting on six parcels of land totaling approximately 63,000 sf. There are 28 two story apartment units of approximately 980 sf of living area with 2 bedrooms and 1.5 baths. Property Highlights - New Roofs - Individually Metered - Tenants pay all utilities - Long Term Tenants - Long Term Owner - Several Section 8 units - Professionally Managed - Some updated appliances

This property consists of five townhouse style apartment buildings totaling approximately 34,000 sf of building area.  These five buildings are sitting on six parcels of land totaling approximately 63,000 sf.  There are 28 two story apartment units of approximately 980 sf of living area with 2 bedrooms and 1.5 baths. 

Property Highlights

- New roofs
- Individually metered for water and electricity
- Tenants pay all utilities
- Each unit has a washer and dryer hook up
- Long term tenants
- Long term owner
- Several units are Section 8 units
- Professionally managed
- Some updated appliances


This property is located about five miles northeast of down town New Orleans. It sits on the south shores of Lake Pontchartrain. Landmarks nearby include The University of New Orleans, UNO Lake Front Arena, City Park and the upscale neighborhood of Lakeview.


This property consists of five townhouse style apartment buildings totaling approximately 34,000 sf of building area. These five buildings are sitting on six parcels of land totaling approximately 63,000 sf. There are 28 two story apartment units of approximately 980 sf of living area with 2 bedrooms and 1.5 baths.

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