USALANew Orleans24-8816-24 Spruce St
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24-8816-24 Spruce St, New Orleans, LA

Real Estate

For Sale

Listed price in listed location currency (USD).
$515,000

000

MLS® 2542901

  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Commercial Sale
Size 3120 sqft
Garage No
HOA Fees 
Taxes 
Days Active 76
Approx. Age 1960
Avg. Price Per Sqft $165
MLS® Number 2542901

Property Address: 24-8816-24 Spruce St, New Orleans, LA, 70118-1566

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

Description

All rents to $950 per month now - 100% occupied. 9.1% in place cap rate. All of the units are separately metered for water AND electricity. Each property is on separate parcel and can qualify for favorable 1-4 unit investment financing. 8816-26 Spruce Street is a 6-unit multifamily property located in the rapidly-growing Leonidas/Carrollton neighborhood, just blocks away from the Carrollton Avenue and S. Claiborne Avenue. The property is in excellent condition and has major upside potential in rents as the current owner favored maintaining relationships with long term tenants. Rents for 2 bed/1 bath units in this area in similar condition and size can obtain a rental amount of $1, 100 per month conservatively. This would bring the potential rental income to $6, 600 per month. The tenants are responsible for all utilities, which brings down overall costs and greatly enhances the value of the asset.
MLS® Number2542901
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1960
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Feb 13, 2026List Date
$515,000List Price
-End Date
Not Sold YetSold Price

For Sale

Jun 17, 2025List Date
$515,000List Price
  • Commute

Commute

Starting Address
Destination Address
8816-24 Spruce St, New Orleans, LA

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