8816-24 SPRUCE Street, New Orleans, LA 70118
$515,000
Property Type:
Comm Bldg Sale/Lease
Square Footage:
3,120
Status:
Active
Current Price:
$515,000
List Date:
2/13/2026
Last Modified:
4/30/2026
Overview
Description
Listing Details MLS# NO2542901
Listing Info
- For Sale
- Yes
- Delayed Marketing
- No
- Listing Price
- 515000
- List Price/SqFt
- 165.06
- Modification Timestamp
- 2026-04-30T13:37:48Z
- Photo Modified
- 2026-04-30T13:36:49Z
Location Tax Legal Info
- Street Number
- 8816-24
- Street Name
- SPRUCE Street
- Parish
- Orleans
- State
- LA
- Zip Code
- 70118
- Tax Assessment Number
- per assessor
- Zone
- RD-2
- Directions
- Bounding Streets: Spruce & Leonidas
General Property Description
- Lot Dimensions
- 9000
- SqFt - Total
- 3120
- SqFt - Source
- Public Record
- Stories
- 2
- Acreage Range
- 0 - 0.5
Originating Details
- Originating System ID
- ROAMM
- Originating System Key
- 57038850
- Originating System Listing ID
- 2542901
- Originating System Name
- ROAM Matrix
Sale/Lease Info
- Lease Purchase
- No
Remarks & Misc
- Remarks
- All rents to $950 per month now - 100% occupied. 9.1% in place cap rate. 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.
More Information
Office/Member/Contract Info
- List AOR
- NOMAR
Property Type
- Retail
- Yes
Construction
- Frame
- Yes
- Stucco
- Yes
Property Features
Property Type:
Retail
Construction:
Frame; Stucco
IDX
Listing Office:
Bridgewater Realty Advisors, LLC
Last Updated: April - 30 - 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.