Casa Calvo, Wagner, Lamarque Streets, New Orleans, LA 70114

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Building Details:

Casa Calvo, Wagner, Lamarque Streets is located in New Orleans, LA.

Hano Housing Authority of New Orleans

Algiers, Louisiana

US Government Rental Payments

15 Units with 22 Fully Leased Apartments (with wait list)

Consisting of Single and Double units only.

1, 2 and 3 bedroom units

New Construction- all units 1-3 years 2008-2010

Excellent Cash Flow

Annual Rental Income $275,000 plus

CAP RATE 9% (After 40% Tax Rate)

Appraisal Income Approach $2,809,000

Appraisal Cost Approach $2,868,000

Loan Balance $1,943,000 Financing 6.5%, Balloon Payment

Loan to Value 71%

Investment opportunity includes but is not limited to all investment income (rental or other) and 15 Housing Units with a total of 22 Rental Apartment, real estate (Land), improvements and any FF&E, all attached appraisals and Louisiana LLC.

Existing Management Company may be available under a separate agreement.