Value-Add - The Rylan

Call for offers - October 16th

The Rylan is a 52-unit value-add multifamily community in Metairie/Fat City, near I-10, Causeway, and Veterans Boulevard. The location offers convenient access to Lakeside Shopping Center, the Veterans Memorial Boulevard retail corridor, nearby healthcare facilities, and major employment centers throughout Metairie and New Orleans.

The property currently has five occupied units, 36 rent-ready units, and 11 down units. Recent improvements include exterior updates, renovated unit interiors, and removal of the former pool in preparation for a courtyard amenity. With much of the renovation work already completed, a new owner can focus on leasing the available units while completing the remaining unit work, courtyard improvements, and roof program. The existing rent-ready inventory and low current occupancy provide a strong value-add opportunity through lease-up and stabilization.

Can be purchased individually or as a package with The Maxwell, which is a 91-unit community located 0.3 miles away at 3420 Edenborne Ave. Listing link: https://lacdb.resimplifi.com/listings/306d8b74-value-add-the-maxwell