Ormond Plantation

Posted: 7/24/2019
120 Units
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Ormond Plantation
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Ormond Plantation
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Ormond Plantation

About

About Ormond Plantation

The Cushman & Wakefield Southeast Multifamily Advisory Group and Larry G. Schedler & Associates, Inc. are pleased to present the exclusive listing of the 120-unit Ormond Plantation apartment community located in Metro New Orleans in Destrehan, LA. This highly desirable submarket is a quaint New Orleans suburb located along the Mississippi River and has virtually no competing multifamily properties. With over $2.35M ($19K+ per unit) in strategic capital improvements and renovations spent in the last four years, prior ownership upgraded every aspect of the property, allowing new ownership the opportunity to focus on a minor value-add program. The property repositioning has bolstered its performance, highlighted by 8.9% year-over-year income growth since April 2017. Ormond Plantation presents the opportunity to acquire one of the nicest assets in the Destrehan market.