2221 N Hullen Street

Description

PRICE REDUCTION! This is an 18-unit building that must be sold with the neighborhing 18 unit building at 2205 N. Hullen St - total of 36 units for $3.75M. 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.