9% cap on actuals, one vacancy when filled brings property to 10% cap. Over $250,000 in renovation work completed in past year including all new underground plumbing, interior renovations to ~3/4 of units including flooring, Sheetrock, paint, appliances, complete bathroom renovations, etc. Metal roof in great shape with all new screws and foam. New shed for maintenance storage. Security cameras. 15/16 units occupied leaving room to grow rent roll and increase value. Gross monthly rents currently over $17k/month, will be over $18k/month at 100% occupancy. All vouchers are 1 bedroom which leaves even more room to increase cash flow by getting the 10 2 bedrooms up to 2 bedroom vouchers. All financials in attachments. Agent/Owner
Listed By
Agency Name: Bridgewater Realty Advisors, LLC
Agency Phone: (504) 901-0463
Shown By
Agent Name: Wendy Benedetto
Agent Phone: (504) 382-7492
Agency Title: Wendy Benedetto, LLC
321-325 S Bengal Road | MLS# 2547424
This multi-family property located at 321-325 S Bengal Road, River Ridge, LA 70123 is currently listed for sale with an asking price of $1,350,000. Search River Ridge real estate on wendybenedetto.wendybenedetto.com today.