Aug '25 • I GOT A DEAL!
64 Unit Apt Bldg |New Orleans| potential to generate 13% CAP
I am offering assignment of this contracted 64 Unit building; willing to negotiate assignment fee.
Purchase price - $3,200,000
Approximately $600K in CapEx
Currently generating 8% return
A Compelling Value-Add Opportunity in New Orleans, LA
Acquire a 68-unit multifamily community with significant value-add potential.
Built in 1968, offering a mix of one- and two-bedroom units.
Classic interiors with original finishes, ideal for a targeted renovation strategy.
Priced well below replacement cost, allowing for capital appreciation.
The Investment Thesis: Capitalize on a proven renovation plan to unlock substantial rent premiums and long-term value.
Investment Highlights
Value-Add via Affordable Housing Program (START):
34% of units are leased through the START program, a local voucher-based initiative.
This provides a 100% guaranteed, government-funded income stream, minimizing delinquency and stabilizing cash flow.
Significant Utility Reimbursement Upside:
The START program funds electric reimbursements for residents.
23 residents currently generate guaranteed revenue. Once stabilized, this could result in over $142,000 in annual income from electric reimbursement alone.
Fire-Damaged Units:
The property had a recent fire that took down 14 units.
Bringing these 14 units, plus one other down unit, back online is a massive value-add opportunity with an estimated cost of $25k per door.
Once renovated property can generate return of 13% in a very short amount of time
Please let me know if you are interested, I can be reached at admin@nbghomesolutions.com or 904-874-5249
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64 Unit Apt Bldg |New Orleans| potential to generate 13% CAP
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