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USALAMarrero1302 Allo Ave
The front side facing Allo Ave. Four studio apartments on the 2nd floor, 3 units on the ground level. | Image 1
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$835,000

1302 Allo Ave, Marrero, LA

Condo

For Sale

$--,---,---
990
  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size 5131 sqft
Garage No
Maintenance Fees 
Taxes 
Days Active 39
Approx. Age 1970
Avg. Price Per Sqft $162
MLS® Number 2490326

Property Address: 

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

Description

Investor Alert! Here's a rare opportunity to acquire a solid all-brick 7-unit apartment building plus a detached single-family home, delivering 8 fully rentable units with historically low vacancy. A recent $94, 000 price adjustment makes this property even more attractive, and the seller will consider bond-for-deed "owner financing" with a minimum 25% down payment (what most commercial lenders would require). Flexible terms and conditions can be negotiated. Located at the corner of 13th Street and Allo Avenue, just a few blocks behind West Jefferson Medical Center, the property is surrounded by predominantly single-family homes and enjoys strong tenant demand, top-of-market rents, and steady cash flow. The main building measures approximately 4, 392 sq. Ft. And consists of five studios, one one-bedroom, and one two-bedroom unit, while the detached home (Unit E) adds an additional 792 sq. Ft. The income is currently $6, 535 per month with projected rents up to $8, 000 after modest increases. Tenant amenities include balconies on second-floor apartments, central air and heat, on-site coin-operated laundry, and off-street parking. Each unit has its own electric meter (except Unit H), while water is on a single meter paid by the seller (approx. $400/month). The roof was replaced in 2021 after Hurricane Ida, and the property is located in an “X” flood zone. There is no flood insurance on the property now. The seller requests that cash buyers provide proof of funds or a letter of pre-approval for buyers obtaining a mortgage before showings. No “For Sale” sign is on the property.Show Description
MLS® Number2490326
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelLaundry Room
Exposure
ExteriorBalcony
GarageNo
Approx. Age1970
Stories
Pets
Corp Number

Included in Maintenance Fee

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

Utilities

HeatCentral
A/CCentral Air
Heating Fuel

Extras

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