4415 35 WILSON AVE New Orleans, LA 70126
28 Beds
16 Baths
8,360 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 8,360 sqft
Price per Sqft $119
MLS Listing ID 2550516
Style Traditional
Bedrooms 28
Full Baths 16
Construction Status Average Condition
HOA Y/N No
Year Built 2017
Lot Size 0.321 Acres
Acres 0.3211
Property Sub-Type Apartment
Property Description
The property consists of twelve units totaling twenty-eight bedrooms and sixteen bathrooms, featuring a desirable mix of four (4) 3-bedroom/2-bath units and eight (8) 2-bedroom/1-bath units. The asset generates approximately $12,141 in monthly rental income (once the last unit is leased), with additional revenue from on-site laundry. It is currently supported by a solid 92% occupancy rate.
Originally renovated in 2019, the property features updated electrical, plumbing, roofing, and window systems, contributing to reduced maintenance and long-term durability. Each unit is individually metered, enhancing expense control and operational efficiency.
The gross building area is approximately 8,360 square feet and includes 16 off-street parking spaces. The property is located in a favorable Flood Zone X.
A purchaser has the ability to acquire this stabilized asset and continue raising rents to market levels, with the potential to improve the cap rate to 10%+.
NOI: $86,519
CAP Rate: 8.65%
Gross Rents: $12,141 /month or $145,692 /year
All information is deemed reliable but is not guaranteed. Buyers and Buyers' agents are advised to verify all information, measurements, and details independently.
Contact the agents for additional information or to schedule a showing:
Cameron Griffin: cameron@bridgewater.realty
Rami Khodr: rami@bridgewater.realty
Location
State LA
County Orleans
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Common Area
Exterior
Parking Features Off Street, Parking Lot
Pool None
Water Access Desc Public
Roof Type Shingle
Building
Lot Description City Lot, Rectangular Lot
Entry Level Two
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
Construction Status Average Condition
Others
Tax ID 39W908716
Special Listing Condition None
