2808 JOSEPHINE ST, New Orleans, LA 70113
2808 JOSEPHINE ST, New Orleans, LA 70113
2808 JOSEPHINE ST, New Orleans, LA 70113
2808 JOSEPHINE ST, New Orleans, LA 70113
2808 JOSEPHINE ST, New Orleans, LA 70113
2808 JOSEPHINE ST, New Orleans, LA 70113
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Shelly Paternostro

Shelly Paternostro

+1(504) 382-7777
Listed byBridgewater Realty Advisors • Bryce A Danna-Marullo • 504-901-0463
$ 999,000
Est. payment | /mo

16 Beds

16 Baths

6,600 SqFt

Save Virtual Tour
$ 999,000
Est. payment | /mo
Save Virtual Tour

16 Beds

16 Baths

6,600 SqFt

Key Details

Property Type Other Types

Sub Type Multifamily 5+

Listing Status Active

Purchase Type For Sale

Square Footage 6,600 sqft

Price per Sqft $151

MLS Listing ID 2582319

Style Other

Bedrooms 16

Full Baths 16

HOA Y/N No

Year Built 1973

Lot Dimensions 9600

Property Sub-Type Multifamily 5+

Source ROAM MLS

Land Area 6600

Property Description

Excellent opportunity to acquire a 16-unit multifamily investment property at 2808–2822 Josephine Street in New Orleans, offering an attractive combination of existing rental income, immediate lease-up potential, and a compelling rent-to-purchase-price ratio rarely found in today's market. The property consists of four separate buildings, each containing four residential units, with a mix of compact studio/one-bedroom layouts. Currently, 12 of the 16 units are occupied, providing an established income stream while offering a new owner the opportunity to implement new property management, lease the remaining four vacant, rent-ready units, and maximize the property's earning potential. The property serves the affordable housing market, with low-income rental subsidies contributing to its investment appeal. Once the remaining units are leased, the projected gross rental income totals approximately $18,350 per month (shown above), or $220,200 annually, representing an exceptionally attractive income opportunity relative to the asking price.

Location

State LA

County Orleans

Interior

Cooling Window Unit(s)

Fireplace No

Exterior

Garage Spaces 3.0

Utilities Available Natural Gas Available

Total Parking Spaces 3

Garage No

Building

Lot Description Other

Foundation Raised

Water Public

Architectural Style Other

New Construction No

Others

Tax ID per assessor

Virtual Tour https://www.propertypanorama.com/instaview/roam/2582319

ROAM MLS

NEARBY SCHOOLS & PROPERTIES

Shelly Paternostro

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
–Franklin D. Roosevelt

+1(504) 382-7777

shellypaternostro@me.com

203 Bradwall Street Luling, LA 70070, Luling, LA 70070, USA

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2808 JOSEPHINE ST