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34258714
34258713

261 Jules Avenue, Jefferson, LA 70121 For Sale

MB
LA BROK.995719611-ACT
SVN | Urban Properties
Listed by SVN | Urban Properties
$6,255,000
10 days on market
Updated 10 days ago

Studio Arms

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 21,000
Units 37
Cap Rate 7.36%
NOI $460,218
Occupancy 100%
Tenancy Single
Price per SqFt $298
Year Built 1960
Year Renovated 2022
Stories 3

Multifamily | 7.36% CAP | 37 Units

Marketing description

Fully stabilized multi-family property in growing Jefferson Parish submarket, anchored by Ochsner Medical Center. 90% occupancy and very strong revenue growth that will accelerate when Ochsner's children's hospital and neuroscience center are complete.

The Studio Arms property is located in the vibrant and diverse community of Jefferson, LA (Old Jefferson). It is situated within easy reach of Downtown New Orleans, Elmwood, and the Old Metairie and Veterans Avenue business districts. It is also 2.5 blocks from Ochsner's main hospital on Jefferson Hwy, making it an attractive location for Ochsner's workforce. Nearby points of interest include the Jefferson Performing Arts Society, Veteran's Memorial Square, and numerous parks, providing ample entertainment and leisure opportunities for potential residents. With its convenient proximity to city amenities and natural beauty, the location presents an appealing investment opportunity for those seeking to establish a multifamily property in a thriving community.

Investment highlights

  • 37 units (100% occupied); 3-story w/ elevator
  • Full renovation in 2022
  • On-site parking and laundry
  • 24% Revenue growth in 2024, strong long-term market fundamentals

Listing Contacts

MB
LA BROK.995719611-ACT
SVN | Urban Properties
Listed by SVN | Urban Properties

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$460,217.84
$38,351.49/mo

Valuation Metrics

0
DSCR
7.36%
Cap Rate
7.36%
ROI

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Additional Information

Name
Michael Bucher
License
BROK.995719611-ACT
Brokerage
SVN | Urban Properties
Brokerage Phone
504-264-6145
Title
Real Estate Broker
Brokerage Address
1582 Magazine Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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