11930 Lakeland Ct

Lakeland Manor is a portfolio of eight (8) adjacent fourplex apartment buildings totaling 31 units, ideally located in a quiet cul-de-sac off Bullard Avenue in New Orleans East all situated within immediate proximity, creating a cohesive and easily managed community. 

All units are separately metered for power and water and tenants are responsible for all utilities - this is a rare occurence in this market. 

An additional 4plex located at 8017 Bullard next door is also for sale for total of 35 units. Each building is a well-maintained two-story fourplex offering spacious floorplans and consistent rental demand. The layout of the portfolio, clustered around Lakeland Court with frontage on Bullard Avenue, provides operational efficiency for leasing, management, and maintenance. All buildings benefit from strong physical condition and stabilized occupancy with upside potential through rent growth. This portfolio offers a turnkey investment in a stable, income-producing multifamily asset ideally suited for both seasoned multifamily investors seeking a reliable return profile and investors looking to scale quickly in a proven submarket.

• 31 Units - 2 BR, 1.5 BA Each; 1,100 sf each - townhouse style
• Majority of units renovated to some degree and in great condition
• ALL UNITS SEPARATELY METERED FOR WATER & POWER AND TENANTS PAY ALL UTILITIES
• (8) 4-plexes in a cul-de-sac: separate tax parcels as condos but same ownership - one unit is separately owned but may sell with the package
• Monthly Rental Income of $32,070 - in place cap rate of 7.44%
• Pro forma cap rate of 8.30% - no renovations just raise rents to market
• Additional nearby fourplex at 8017 Bullard also available for total of potentially 35 units