Investment Opportunity 24 Units with Parking and Pool!

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30753976
Status: Pending/Contingent
Number of Units: 24 Units
Building Size (RSF): 11,187 SF
Gross Building Area: See Agent
Sale Price: $2,595,000
Unit Price: $108,125 Per Unit
Property Use Type: Investment
Building Name: 1725 Delachaise Condominiums
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/18/2021

Overview / Comments

1725 Delachaise Condominiums. Incredible investment opportunity in popular Milan Neighborhood of New Orleans. 24 units in well maintained property. Building features parking for all units refreshing pool, and security gate. Building's units have already been split up into separate condominiums by the city and have condo docs in place for easy conveyance down the road. Property has lots of land. Located in wonderful location one block off St. Charles Ave and parade route. Units are easily rented with room to increase rental rates. Keep as investment with positive cash flow, or sell units individually down the road.
Unit breakdown ( 12 one bedroom units, 3 one-bedroom units with private patios, 3 one-bedroom units with study, 2 two-bedroom with private patio, 4 two bedroom units). All units one bath.

Financials

Finance Data Year 2021
Potential Rental Income $253,200 (Annual)

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Zoning: HU-RD2
Percent Occupied: 100%
Community Amenities: Outdoor Pool
Property Located Between: Baronne and Carondelet
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Parking Type: Surface
Parking Description: Gated lot off street
Total Parking Spaces: 24
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 34,282 181,766 408,110
Median Age: 36.8 36.28 36.97
Households: 16,511 78,822 169,908

Contact

Photograph of Listing Agent

George Jeansonne

French Quarter Realty
New Orleans, LA
LACDB Member
Photograph of Listing Agent

Michael Wilkinson

French Quarter Realty New Orleans, LA
LACDB Member
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