Courtesy: Bridgewater Realty Advisors, LLC
Bryce Danna-Marullo
504-301-5583
9% cap on actuals, one vacancy when filled brings property to 10% cap. Over $250,000 in renovation work completed in past year including all new underground plumbing, interior renovations to ~3/4 of units including flooring, Sheetrock, paint, appliances, complete bathroom renovations, etc. Metal roof in great shape with all new screws and foam. New shed for maintenance storage. Security cameras. 15/16 units occupied leaving room to grow rent roll and increase value. Gross monthly rents currently over $17k/month, will be over $18k/month at 100% occupancy. All vouchers are 1 bedroom which leaves even more room to increase cash flow by getting the 10 2 bedrooms up to 2 bedroom vouchers. All financials in attachments. Agent/Owner
River Ridge is located in Louisiana. River Ridge, Louisiana has a population of 13,435. River Ridge is more family-centric than the surrounding county with 26.14% of the households containing married families with children. The county average for households married with children is 25.58%.
The median household income in River Ridge, Louisiana is $78,003. The median household income for the surrounding county is $58,638 compared to the national median of $69,021. The median age of people living in River Ridge is 45.9 years.
The average high temperature in July is 92 degrees, with an average low temperature in January of 44.8 degrees. The average rainfall is approximately 62.4 inches per year, with 0 inches of snow per year.
