$3,250,000
2205 N Hullen Street Metairie, LA 70001
22
See all 22 photos
$3,250,000
Est. payment /mo
35,148 Acres Lot
Active
2205 N Hullen Street Metairie, LA 70001
UPDATED:
11/02/2024 01:59 PM
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID NO2441947
Lot Size 35148.001 Acres
Acres 0.8069
Property Description
$500K PRICE REDUCTION! Introducing 2205 & 2221 N. Hullen Street, a 36-unit multifamily property (two 18-unit buildings) located in Metairie, LA. This well maintained complex consists of a mix of 2 bed 1 bath units, 2 bed 1.5 bath units and 1 bed 1 bath units with addition of a coin operated laundry room in each building. Based on market rent comparables included in this OM, there is room to increase rental rates to $1,350/mo for the larger units. Metairie is a highly desirable market for both renters and investors alike. Multifamily properties in Metairie generally experience lower turnover and rent extremely quick and 2205/2221 N Hullen is no exception. Currently, rents are positioned below the local market rates, leaving room for a new owner to strategically increase rental income without the need for extensive renovations. Property amenities include a well-kept swimming pool, laundry room in each building, washer & dryer hookups in several units, and ample parking for tenants. New roof as of 2022. In sum, 2205 & 2221 N. Hullen Street represents an extraordinary value-add investment prospect, offering a harmonious blend of location, potential, and quality, making it an ideal addition to your real estate portfolio.
Location
State LA
Interior
Heating Central
Cooling Central Air
Exterior
Garage Parking Lot
Roof Type Composition
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories 3
Listed by Bridgewater Realty Advisors, LLC
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