8816-24 SPRUCE Street, New Orleans, LA 70118
$550,000
Property Type:
MultiFamily
Square Footage:
3,120
Status:
Active
Current Price:
$550,000
List Date:
6/17/2025
Last Modified:
1/08/2026
Description
All rents to $950 per month now - 100% occupied. All of the units are separately metered for water AND electricity. Each property is on separate parcel and can qualify for favorable 1-4 unit investment financing. 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. The tenants are responsible for all utilities, which brings down overall costs and greatly enhances the value of the asset.
Supplements: ********
More Information MLS# NO2507535
Listing Info
Delayed Marketing: No
List Price/SqFt: 176.28
Document Modified: 2026-01-08 11:59:19.235092
Status: Active
Listing Date: 2025-06-17
Listing Price: 550000
Current Price: $550,000
Modification Timestamp: 2026-01-08T19:04:23Z
Photo Modified: 2026-01-08T17:44:17Z
General Property Description
Lot Dimensions: 9000
Stories: 2
SqFt - Total: 3120
SqFt - Source: Public Record
Number of Units: 6
Remarks & Misc
Remarks: All rents to $950 per month now - 100% occupied. All of the units are separately metered for water AND electricity. Each property is on separate parcel and can qualify for favorable 1-4 unit investment financing. 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. The tenants are responsible for all utilities, which brings down overall costs and greatly enhances the value of the asset.
Office/Member/Contract Info
List AOR: NOMAR
Currently Not Used
Acreage Range: 0 - 0.5
Siding
Stucco: 1
Construction
Frame: 1
Foundation
Slab: 1
Roof
Composition: 1
Heating
Central: 1
Cooling
Central Air: 1
Originating Details
Originating System ID: ROAMM
Originating System Key: 51548584
Originating System Listing ID: 2507535
Originating System Name: ROAM Matrix
Location Tax Legal Info
Street Number: 8816-24
Street Name: SPRUCE Street
Parish: Orleans
State: LA
Zip Code: 70118
Tax Assessment Number: per assessor
Directions: Bounding Streets: Spruce & Leonidas
Property Features
Siding: Stucco
Construction: Frame
Foundation: Slab
Roof: Composition
Heating: Central
Cooling: Central Air
Documents
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Listing Office:
Bridgewater Realty Advisors, LLC
IDX
Last Updated: January - 08 - 2026
The data relating to real estate for sale or lease on this website comes in part from the IDX program of the REALTOR® Association of Acadiana MLS. The IDX information is provided exclusively for consumers’ personal, non-commericial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.