LA - Richland Apartment Complex
THIS PROPERTY IS SALE PENDING!!!
Access - Clarice St.
Improvements - Apartment complex consisting of 3 - Duplex Apartments and 1 - Triplex
Comments - A great investment with good cash flow. These apartments are 100% occupied and have been so over the years. One tenant has been there close to 25 years. The 8 apartments are rented as follows; 8 at $425.00 per month which totals $40,800.00 yearly and 1 at $325.00 per month which totals $3,900.00 yearly for a total yearly rental income of $44,700.00. Total costs include parish and city taxes, night light, insurance, and water total of expenses is $9,498.00. Repair and maintenance costs are minimal as the complex was painted in 2012 and a new roof was installed in 2005. All floors have been replaced with Unifloor. Even at asking price this shows a good return and the price is negotiable.
Listing Agent - Richard Lemoine
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