8816 Spruce St New Orleans, LA 70118
Leonidas NeighborhoodEstimated payment $3,369/month
Total Views
2,596
12
Beds
6
Baths
4,547
Sq Ft
$121
Price per Sq Ft
Highlights
- Traditional Architecture
- Central Heating and Cooling System
- Property is in very good condition
- Oversized Lot
About This Home
NEW PRICE & NEW RENTS! All rents to $900 per month now - 100% occupied. 8816-26 Spruce Street is a 6-unit multifamily property located in the rapidly-growing Leonidas/Carrollton neighborhood, just blocks away from the Carrollton Avenue and S. Claiborne Avenue. The property is in excellent condition and has major upside potential in rents as the current owner favored maintaining relationships with long term tenants. Rents for 2 bed/1 bath units in this area in similar condition and size can obtain a rental amount of $1,100 per month conservatively. This would bring the potential rental income to $6,600 per month.
There are two (2) buildings included in the overall property that each have their own individual tax parcel, a four-plex and a duplex. This allows for a buyer to obtain residential 1-4 investment financing which is favorable compared to commercial 5+ financing.
All of the units are separately metered for water AND electricity. The tenants are responsible for all utilities, which brings down overall costs and greatly enhances the value of the asset.
Listing Agent
Bridgewater Realty Advisors, LLC License #995714063 Listed on: 10/30/2024
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $3,477
Year Built
- Built in 1992
Lot Details
- Oversized Lot
- Property is in very good condition
Home Design
- Traditional Architecture
- Slab Foundation
- Frame Construction
- Shingle Roof
- Asphalt Shingled Roof
- Stucco
Interior Spaces
- 4,547 Sq Ft Home
- Property has 2 Levels
Bedrooms and Bathrooms
- 12 Bedrooms
- 6 Full Bathrooms
Parking
- 3 Parking Spaces
- Off-Street Parking
Additional Features
- City Lot
- Central Heating and Cooling System
Community Details
- 6 Units
Listing and Financial Details
- Assessor Parcel Number 716302810
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $3,477 | $26,340 | $3,600 | $22,740 |
| 2024 | $3,529 | $26,340 | $3,600 | $22,740 |
| 2023 | $3,374 | $25,100 | $2,700 | $22,400 |
| 2022 | $3,374 | $23,980 | $2,700 | $21,280 |
| 2021 | $3,613 | $25,100 | $2,700 | $22,400 |
| 2020 | $3,649 | $25,100 | $2,700 | $22,400 |
| 2019 | $2,871 | $19,000 | $1,350 | $17,650 |
| 2018 | $2,928 | $19,000 | $1,350 | $17,650 |
| 2017 | $2,795 | $19,000 | $1,350 | $17,650 |
| 2016 | $2,884 | $19,000 | $1,350 | $17,650 |
| 2015 | $2,825 | $19,000 | $1,350 | $17,650 |
| 2014 | -- | $10,110 | $1,350 | $8,760 |
| 2013 | -- | $10,110 | $1,350 | $8,760 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/02/2025 05/02/25 | For Sale | $365,000 | -33.6% | $128 / Sq Ft |
| 02/11/2025 02/11/25 | Price Changed | $550,000 | -8.2% | $121 / Sq Ft |
| 10/30/2024 10/30/24 | For Sale | $599,000 | -- | $132 / Sq Ft |
Source: ROAM MLS
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $262,500 | Small Business Administration |
Source: Public Records
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Source: ROAM MLS
MLS Number: 2474068
APN: 7-16-3-028-10
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