Published on: Wednesday, July 31, 2024
Updated on: Wednesday, July 31, 2024
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About the Lister
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Name: Chris Talbot
Company: Talbot Realty Group
Office Phone: (504) 319-1452
Cell Phone: (504) 319-1452
Provide Your Service
Financing  Business  Material
  Commercial property
308 Ruby St Gretna Louisiana , 70056
308 Ruby St Gretna Louisiana                                                                                           , 70056Talbot Realty Group
Listing ID: CL-Louisiana-11137

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 35.83
Net Operating Income: $514,536
Commission Split (%): 0
Quick Glance
Listing ID: CL-Louisiana-11137
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: 100%
Year Build: N/A
Building Size: N/A SqFt
Lot Size: N/A
No of Stories: 1
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: No
Property On Ground Lease: No
Building Status: Existing
Listing Summary
The seller has been purchasing homes since 2010 and has performed significant renovations in the absence of tenants or during turnovers, while providing cosmetic improvements on homes that have remained occupied.
Complete Details
Year Build: N/A
Building Size: N/A SqFt.
No of Stories: 1
Total Lot Area: N/A Acre
No of Parking: N/A
No of Total Units: 8
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: B
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 100%
Full Description
The seller has been purchasing homes since 2010 and has performed significant renovations in the absence of tenants or during turnovers, while providing cosmetic improvements on homes that have remained occupied. The portfolio is managed by the owner's professional property management company, who has maintained the properties in quality condition. The 14 subject properties are clustered in Terrytown, LA. The portfolio is currently 100% leased. The units range in size from 1,032 – 1,717 square feet with an average size of 1,300 square feet. The seller has been successful in raising the rents to market rate in 2023. The property management company may stay involved for a fee
Additional Properties
Property Highlights
  • 4 vacants lots
  • The seller has been purchasing homes since 2010 and has performed significant renovations in the absence of tenants or during turnovers, while providing cosmetic improvements on homes that have remained occupied.
  • 100% Leased
  • 8 Rental Units 2, 4-Plexes
Actual - Cash Flow
Cash Flow Year Gross Income Effective GrossIncome Operating Expenses Net Operating Income Pre Tax Cash Flow Cap Rate
2024
$768,000
$0
$0
$514,536
$0
0%
Cash Flow for Current Listings
Listing Location
Attached Documents
  • Download | 56-Units Terrytown 01.04.23.pdf ( 7,322.17KB)
Lister's other Properties
Address: 2222 Carondelet Street Unit H , New Orleans Louisiana 70130
Listing ID: RL-Louisiana-12734
Listing Type: Residential
Category: Residential Type - Condo/Townhouse
Status: Active
Created On: 11/9/2024
Modified On: 11/22/2024
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Address: 218 Telemachus Street , New Orleans Louisiana 70119
Listing ID: CL-Louisiana-12733
Listing Type: Commercial
Category: Land - Commercial
Status: Active
Created On: 11/9/2024
Modified On: 11/9/2024
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Address: 3618 Bienville Ave , New Orleans Louisiana 70119
Listing ID: CL-Louisiana-12732
Listing Type: Commercial
Category: Land - Commercial
Status: Active
Created On: 11/9/2024
Modified On: 11/9/2024
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Address: 825 Villere Street , New Orleans Louisiana 70116
Listing ID: RL-Louisiana-12417
Listing Type: Residential
Category: Residential Type - Single Family
Status: Active
Created On: 10/14/2024
Modified On: 10/14/2024
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Address: 901 03 Jourdan Avenue , New Orleans Louisiana 70117
Listing ID: RL-Louisiana-12415
Listing Type: Residential
Category: Residential Type - Single Family
Status: Active
Created On: 10/14/2024
Modified On: 10/14/2024
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