1302 Allo is what the tax records show. However, it's commonly known as "1300." There are three units down and four units on the second level with front and rear balconies for the four studio apartments. | Image 1

$850,000

1300 02 Allo Avenue, Marrero, LA

Name: 1300 02 Allo Avenue, For Sale in Marrero - eXp Realty
Brand: RE/MAX N.O. Properties
SKU: 2490326
Price: 850000 CAD

Condo

For Sale

$--,---,---

990

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size 5131 sqft

Garage No

HOA Fees

Taxes

Days Active 6

Approx. Age 1970

Avg. Price Per Sqft $165

MLS® Number 2490326

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

This rare and unique opportunity is truly best in its class. A solid all-brick 7-unit apartment building, along with a separate single-family home on the same corner lot delivers 8- fully rentable units. It's the perfect upgrade to increase the number of units you own by utilizing a 10-31 exchange or to recapitalize your properties. It's an ideal location for low vacancy rates and top-of-the-market rents. At the corner of 13th street and allo avenue, it's a predominantly single family home neighborhood. Just a few blocks behind west jeff hospital the building is approximately 4, 392 sq. Ft. The seven units consist of five studio apartments, one 1-bedroom, and one 2-bedroom. The detached house (unit e) is approximately 792 sq. Ft. All units are currently occupied. This property has a historically low vacancy rate due to its location and rent value. The current cash flow is $6, 535 with projected rents up to $8, 185 after a slight increase of each unit. The tenant amenities include balconies on the second floor apartments, central air & heat, on-site coin operated washer/dryer room, and a parking lot. Each unit has its own electric meter, (except unit h). While the water is on a single meter and is paid by the owner (approx. $400 a month). There is no gas service to the buildings. The roof was replaced after hurricane ida in 2021. It is an "x" flood zone - the seller does not have a flood policy. The seller may consider bond-for-deed terms with a substantial down payment, a balloon payment, and a short finance period with an interest rate or at least 1% higher than what a bank would give a qualified buyer. The seller requests that all buyers provide proof of funds or a letter of loan pre-approval before scheduling a showing of the units. The current rental rates are provided in the listing below and the projected rents are available upon request along with the estimated monthly operating expenses. There is no 'for sale' sign on the property.Show Description

MLS® Number2490326

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry LevelLaundry Room

Exposure

ExteriorBalcony

GarageNo

Approx. Age1970

Stories

Pets

Corp Number

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatCentral

A/CCentral Air

Heating Fuel

Extras

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