2205 N HULLEN ST Active Save Request In-Person Tour Request Virtual Tour
Metairie,LA 70001
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 31,652 sqft
Price per Sqft $102
MLS Listing ID 2441947
Style Other
Bedrooms 60
Full Baths 36
Half Baths 18
Year Built 1987
Property Sub-Type Apartment
Property Description
$500K PRICE REDUCTION! Introducing 2205 & 2221 N. Hullen Street, a 36-unit multifamily property (two 18-unit buildings) located in Metairie, LA. This well maintained complex consists of a mix of 2 bed 1 bath units, 2 bed 1.5 bath units and 1 bed 1 bath units with addition of a coin operated laundry room in each building. Based on market rent comparables included in this OM, there is room to increase rental rates to $1,350/mo for the larger units. Metairie is a highly desirable market for both renters and investors alike. Multifamily properties in Metairie generally experience lower turnover and rent extremely quick and 2205/2221 N Hullen is no exception. Currently, rents are positioned below the local market rates, leaving room for a new owner to strategically increase rental income without the need for extensive renovations. Property amenities include a well-kept swimming pool, laundry room in each building, washer & dryer hookups in several units, and ample parking for tenants. New roof as of 2022. In sum, 2205 & 2221 N. Hullen Street represents an extraordinary value-add investment prospect, offering a harmonious blend of location, potential, and quality, making it an ideal addition to your real estate portfolio.
Location
State LA
County Jefferson
Community Pool
Interior
Heating Central
Cooling Central Air
Laundry Common Area
Exterior
Parking Features Off Street,Parking Lot
Pool Community,In Ground
Community Features Pool
Roof Type Flat,Shingle
Building
Lot Description City Lot,Rectangular Lot
Foundation Slab
Sewer Public Sewer
Water Public
Others
Special Listing Condition None