65 Unit Value Add - $43k per unit
8019 Trapier Ave, New Orleans, LA 70127
Overview
*Seller open to Bond for Deed with 25% down, terms negotiable*
Situated in the heart of the New Orleans East neighborhood, this 65-unit apartment complex offers a prime workforce and affordable housing investment opportunity with substantial value-add potential. The portfolio consists of two well-positioned properties: 8019 Trapier, encompassing 48 units, and 9500 Hayne, comprising 17 units. The buildings can be purchased together or separately as a 48 and 17 unit complex. OWNER HAS COMPLETED ALL REPAIRS (EXCEPT FOR 3 DOWN UNITS THEY ARE NOT REHABBING) AND NOW REMAINING UNITS ARE LEASING UP. OCCUPANCY NOW AT 74% AND CLIMBING.
Value Add Asset with Ongoing Improvements
Easy Access to Crowder/Read, I-10
2 Bedroom Units, Open floorplans
Ample parking
Central air/heat throughout
Attachments
For Sale
- Sale Price
- $2,400,000
- Price Per SF
- $38.29/SF
- Cap Rate
- 7.87%
- Building Size
- 62,685 SF
- Acres
- 1.5569 ac
- Zoning
- S-RM2
- Zoning Desc.
- Suburban Multi Family Residential District
- Gross Income
- $692,550
- NOI
- $188,998
- Pro Forma NOI
- $377,294
- Total Expenses
- $279,805
- Building Name
- Lakeside Apartments
- Building Class
- C
- Year Built
- 1981
- Submarket
- Greater New Orleans
- Nearest MSA
- New Orleans-Metairie
- Property Use Type
- Investment
- Property Status
- Existing
- Avg. Occupancy
- 74%
- Power Provider
- Entergy
- Water Provider
- SWBNO
- Sewer Provider
- SWBNO
- Parish
- Orleans
- Available
- 02/13/2026
- Listed
- 08/16/2025
- Updated
- 05/11/2026
- Listing ID
- fcc001a1
- Parcel APN
- 39W000632