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Expand your real estate portfolio with this rare multifamily investment opportunity on the Westbank, just two blocks behind West Jefferson Hospital in a neighborhood surrounded by single-family homes. This income-producing property consists of a two-story apartment building (approx. 4,392 sq. ft.) with seven units—five studios, one 1-bedroom, and one 2-bedroom—along with a detached 1-bedroom house (Unit E) of approximately 729 sq. ft. Currently 100% occupied with a historically low vacancy rate, this property provides steady cash flow. Tenant amenities include an on-site coin-operated laundry and ample parking. Each unit has a separate electric meter, while water is on a single meter, typically paid by the owner. There is no gas service to the building. The roof was replaced after Hurricane Ida, and the property is located in Flood Zone X, with no seller-held flood policy. With Section 8 rental rates offering potential for increases along with a thriving rental market, this is a strong opportunity for long-term financial gain. The seller may consider a short-term bond-for-deed with at least 50% down, and is Ideal for investors seeking a 1031 exchange to expand their multifamily holdings. Pursuant to the seller's request, pre-approved financing letter or proof of funds is required before scheduling showings. There is no for sale sign on the property.PROPERTY FEATURES
Water Source : Public
Sewer : Public Sewer
Parking Features: Off Street,Parking Lot
Exterior Features: Balcony
Patio And Porch Features : Balcony
Lot Features : Corner Lot,City Lot,Rectangular Lot
Architectural Style : Traditional
Property Condition : Very Good Condition
8 Unit(s)
Heating : Yes.
Heating System : Central
Cooling: Central Air
Construction Materials: Brick,HardiPlank Type
Foundation Details: Slab
Levels : Two
Roof Type: Asphalt,Shingle
Laundry Features : Laundry Room
PROPERTY DETAILS
Street Address: 1300 02 ALLO Avenue
City: Marrero
State: Louisiana
Postal Code: 70072
County: Jefferson
MLS Number: 2490326
Year Built: 1970
Courtesy of RE/MAX N.O. Properties
City: Marrero
State: Louisiana
Postal Code: 70072
County: Jefferson
MLS Number: 2490326
Year Built: 1970
Courtesy of RE/MAX N.O. Properties
Courtesy of LATTER & BLUM INC/REALTORS
