1300 02 Allo Avenue, Marrero, LA 70072
Local realty services provided by:ERA Sarver Real Estate
1300 02 Allo Avenue,Marrero, LA 70072
$850,000
- 9 Beds
- 9 Baths
- 5,131 sq. ft.
- Multi-family
- Active
Listed by:luke jones
Office:re/max n.o. properties
MLS#:2490326
Source:LA_GSREIN
Price summary
- Price:$850,000
- Price per sq. ft.:$165.66
About this home
THIS RARE AND UNIQUE OPPORTUNITY IS TRULY BEST IN ITS CLASS. A SOLID ALL-BRICK 7-UNIT APARTMENT BUILDING, ALONG WITH A SEPARATE SINGLE-FAMILY HOME ON THE SAME CORNER LOT DELIVERS 8- FULLY RENTABLE UNITS. IT'S THE PERFECT UPGRADE TO INCREASE THE NUMBER OF UNITS YOU OWN BY UTILIZING A 10-31 EXCHANGE OR TO RECAPITALIZE YOUR PROPERTIES. IT'S AN IDEAL LOCATION FOR LOW VACANCY RATES AND TOP-OF-THE-MARKET RENTS. AT THE CORNER OF 13TH STREET AND ALLO AVENUE, IT'S A PREDOMINANTLY SINGLE FAMILY HOME NEIGHBORHOOD. JUST A FEW BLOCKS BEHIND WEST JEFF HOSPITAL THE BUILDING IS APPROXIMATELY 4,392 SQ. FT. THE SEVEN UNITS CONSIST OF FIVE STUDIO APARTMENTS, ONE 1-BEDROOM, AND ONE 2-BEDROOM. THE DETACHED HOUSE (UNIT E) IS APPROXIMATELY 792 SQ. FT. ALL UNITS ARE CURRENTLY OCCUPIED. THIS PROPERTY HAS A HISTORICALLY LOW VACANCY RATE DUE TO ITS LOCATION AND RENT VALUE. THE CURRENT CASH FLOW IS $6,535 WITH PROJECTED RENTS UP TO $8,185 AFTER A SLIGHT INCREASE OF EACH UNIT. THE TENANT AMENITIES INCLUDE BALCONIES ON THE SECOND FLOOR APARTMENTS, CENTRAL AIR & HEAT, ON-SITE COIN OPERATED WASHER/DRYER ROOM, AND A PARKING LOT. EACH UNIT HAS ITS OWN ELECTRIC METER, (EXCEPT UNIT H). WHILE THE WATER IS ON A SINGLE METER AND IS PAID BY THE OWNER (APPROX. $400 A MONTH). THERE IS NO GAS SERVICE TO THE BUILDINGS. THE ROOF WAS REPLACED AFTER HURRICANE IDA IN 2021. IT IS AN "X" FLOOD ZONE - THE SELLER DOES NOT HAVE A FLOOD POLICY. THE SELLER MAY CONSIDER BOND-FOR-DEED TERMS WITH A SUBSTANTIAL DOWN PAYMENT, A BALLOON PAYMENT, AND A SHORT FINANCE PERIOD WITH AN INTEREST RATE OR AT LEAST 1% HIGHER THAN WHAT A BANK WOULD GIVE A QUALIFIED BUYER. THE SELLER REQUESTS THAT ALL BUYERS PROVIDE PROOF OF FUNDS OR A LETTER OF LOAN PRE-APPROVAL BEFORE SCHEDULING A SHOWING OF THE UNITS. THE CURRENT RENTAL RATES ARE PROVIDED IN THE LISTING BELOW AND THE PROJECTED RENTS ARE AVAILABLE UPON REQUEST ALONG WITH THE ESTIMATED MONTHLY OPERATING EXPENSES. THERE IS NO 'FOR SALE' SIGN ON THE PROPERTY.
Contact an agent
Home facts
- Year built:1970
- Listing Id #:2490326
- Added:163 day(s) ago
- Updated:August 16, 2025 at 03:13 PM
Rooms and interior
- Bedrooms:9
- Total bathrooms:9
- Full bathrooms:9
- Living area:5,131 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central, Heating
Structure and exterior
- Roof:Asphalt, Shingle
- Year built:1970
- Building area:5,131 sq. ft.
- Lot area:0.23 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$850,000
- Price per sq. ft.:$165.66
New listings near 1300 02 Allo Avenue
- New
$335,000Active3 beds 2 baths2,104 sq. ft.1341 Krupp Drive, Marrero, LA 70072
MLS# 2517352Listed by: KELLER WILLIAMS REALTY 504-207-2007 - New
$369,000Active4 beds 2 baths2,042 sq. ft.2721 Elm Lawn Drive, Marrero, LA 70072
MLS# 2517074Listed by: GALIANO REALTY 
$299,000Pending4 beds 3 baths2,930 sq. ft.2513 Cedarlawn Drive, Marrero, LA 70072
MLS# 2517279Listed by: REAL BROKER, LLC- New
$275,000Active4 beds 2 baths1,342 sq. ft.2625 Misty Meadows Drive, Marrero, LA 70072
MLS# 2516491Listed by: ABEK REAL ESTATE - New
$50,000Active3 beds 2 baths1,495 sq. ft.2905 Doreen Lane, Marrero, LA 70072
MLS# 2517098Listed by: GILMORE AUCTION & REALTY CO. (A CORP.) - New
$75,000Active5 beds 6 baths3,044 sq. ft.7917 Barataria Boulevard, Marrero, LA 70072
MLS# 2517102Listed by: GILMORE AUCTION & REALTY CO. (A CORP.) - New
$580,000Active5 beds 5 baths3,780 sq. ft.31 Oak Alley Boulevard, Marrero, LA 70072
MLS# 2516216Listed by: EXP REALTY, LLC - New
$289,900Active3 beds 2 baths1,492 sq. ft.2664 Cedar Creek Street, Marrero, LA 70072
MLS# 2517092Listed by: EXP REALTY, LLC - New
$279,000Active3 beds 2 baths1,541 sq. ft.5228 Savannah Lane, Marrero, LA 70072
MLS# 2516987Listed by: NOLA LIVING REALTY - New
$180,000Active3 beds 2 baths1,089 sq. ft.2724 Bayou Teche Drive, Marrero, LA 70072
MLS# 2516752Listed by: KELLER WILLIAMS REALTY 504-207-2007
Protect your home and budget with an American Home Shield© home warranty. Learn more© 2023 - 2025 ERA Franchise Systems LLC. All rights reserved. ERA Franchise Systems LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. ERA, ERA Real Estate powered, and their respective logos are registered service marks of ERA Franchise Systems LLC. Each office is independently owned and operated.