$110,000
22.1 Acres with Over 2,200 Ft of River Frontage on Bogue Chitto – Parcel D
Franklinton, Louisiana
Soft OfferCommercial Property for Sale in Gretna Louisiana 70056
308 Ruby St, Gretna, Louisiana 70056
$718,000
71.66% cap rate Listed Jul 31, 2024
1
Stories
8
Units
Class B
Class
About this property
Commercial Property for Sale in Gretna Louisiana 70056 is a multifamily for sale in Gretna, Louisiana, listed at $718,000. Key details: stories 1, total units 8, building class Class B, occupancy 100%. Listed by Chris Talbot of Talbot Realty Group on LoopingCloud and last updated July 31, 2024.
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
Key highlights
- 4 vacants lots
- 100% Leased
- 8 Rental Units 2, 4-Plexes
Lending Opportunities
| Company | Lender type | Contact | Phone | |
|---|---|---|---|---|
| TheLoanProsTeam | Mortgage Broker | Roxanne Chung | (754) 707-5877 | |
| Money Solutions, LLC | Mortgage Broker | Jennifer A. Judice | (813) 431-5000 |
Property details
Key facts
- Stories
- 1
- Total Units
- 8
- Building Class
- Class B
- Occupancy
- 100%
- Property Status
- Normal Sale
- Building Status
- Existing
Pricing details
- Net Operating Income
- $514,536
- Financing
- Third Party Financing
- Investment Property
- Active investment property
Investment snapshot
71.66%
Cap rate
$514,536
Net operating income
Actual - Cash Flow
Source: Yearly tax returns
Gross incomeNet operating income
| Year | Gross income | Effective gross | Expenses | NOI | Pre-tax cash flow | Cap rate |
|---|---|---|---|---|---|---|
| 2024 | $768,000 | - | - | $514,536 | - | - |
Acquisition options
| Option | Asking price | Cap rate | Commission | Monthly income | Ownership |
|---|---|---|---|---|---|
| Purchase Only | $718,000 | 35.83% | - | - | - |
Features and amenities
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
Location
Address as shown by the lister.
Get directionsAbout this area - Gretna
- Population
- 40,264
- Housing units
- 15,078
- Land area
- 6.9 sq mi
- County
- Jefferson
Neighborhood
Places shown on the map come from Google Maps and are near the property. Check details with each place before you rely on them.
Documents, links and contacts
Property documents
1 file to downloadFrequently asked questions
What is the asking price of Commercial Property for Sale in Gretna Louisiana 70056?
Commercial Property for Sale in Gretna Louisiana 70056 is listed at $718,000. The stated cap rate is 71.66%.
Where is Commercial Property for Sale in Gretna Louisiana 70056 located?
The property is in 308 Ruby St, Gretna, Louisiana 70056, Jefferson County.
What type of property is this?
This is a multifamily for sale in the commercial category.
Is financing available?
The lister indicates: Third Party Financing.
Who do I contact about this listing?
Chris Talbot of Talbot Realty Group listed this property. Use the Request Info button to send a message or call (504) 319-1452.
When was this listing published?
It was published on July 31, 2024 and last updated on July 31, 2024.
Listing information
- Listing ID
- CL-Louisiana-11137
- Published
- Jul 31, 2024
- Last updated
- Jul 31, 2024
- Views
- 463
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