Huntington Park

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Listing was updated on: 01/11/2023

7019 Crowder Boulevard, New Orleans, LA, United States

• 100% Classic Units Primed For Value-Add Implementation  
• Opportunity To Capture $173 Per Unit (Monthly) In Upside  
• Exceptional Ability To Push Annual Rental Income $333,972+
• Incredibly Strong Fundamentals In Low-Velocity Market
• Opportunity To Save $87k+ Annually Via Utility Conservation Program
• Ability To Capture Additional $55,000+ In Operational Upside
• Offered Free And Clear Of Existing Debt

100% Classic Units Primed for Value-Add Implementation  With vintage interior finishes and 100% classic unit types overall, Huntington Park is primed for value-add modernizations and upgrades throughout which will elevate the property positioning and increase average rents significantly!

Opportunity to Capture $173 Per Unit in Value-Add Upside with Interior UpgradesHuntington Park provides the incredible opportunity to upgrade 100% of the unit interiors and receive rent upside of $173+ per unit per month above average in-place rents ($100 above current asking rents!). Interior renovations to the units which are proven in the immediate sub-market include upgraded wood-look flooring, solid surface countertops, stainless steel appliances, updated lighting package, and updated bathrooms. Completion of these moderate updates enables the ability for new ownership to significantly push rental income by $333,972+ annually!

Ultra Low-Velocity Market with Incredibly Strong Fundamentals The market features a tight vacancy for stabilized assets, nearly zero new units under construction, and 7-12% rent growth across the market. These fundamentals bode well for New Orleans East as an up-and-coming Parrish as investor demand increases.

• Additional URL huntingtonpark-mmgrea.com