UPTOWN FOUR PLEX

Multi-Family for Sale
Catylist Listing ID: 30537598
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 4,459 SF
Gross Building Area: See Agent
Gross Land Area: 4,807 SF
Sale Price: $945,000
Unit Price: $236,250 Per Unit
Property Use Type: Investment
Building Name: 721-723 Valmont Street
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/7/2020

Overview / Comments

Renovated Uptown 4 PLEX that runs full. $90,000 per year in gross rent. Excellent tenants, low management, beautiful building with double-sided driveways connecting to rear yard. Post WW2 construction built on a 24” slab and built with second generation tradesman. Amazing structure and very well maintained by current ownership. Excellent Uptown New Orleans rental investment, with excellent configuration for a potential homestead exemption accessory short term rental licensing on 3 AirBnB units. Total rents are based on modest rent increases to market over and above current contract rents. All terms less than 12 months.

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Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Taxing Authority: Orleans Assessor
Tax ID/APN: 41052546
Zoning: HU-RD2 HISTORIC URBAN TWO-FAMILY RESIDENTIAL DISTRICT
Percent Occupied: 100%
Property Located Between: Constance Street & Laurel Street
Site Description: Located 2 blocks within Magazine Street in Uptown New Orleans, near the New Orleans Lawn Tennis Club and Whole Foods Market.
Area Description: This area is in Historic Uptown New Orleans, with the location on the riverside of Magazine Street. A high foot traffic area, there is a large amount of retail and restaurant space surrounding this area, with it also being residential friendly. Close by is Children's Hospital, and Audubon park, with close access to grocery stores on Magazine and Tchoupitoulas.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 3
Year Built: 1949
Year Renovated: 2013
Parking Type: Surface
Parking Description: Property has 2 driveways on either side of the structure, that can fit at least two cars each, with additional street parking in front of the property.
Total Parking Spaces: 4
Heat Source: Central
Zoning Description: Historic Urban Two-Family Residential District
Lot Frontage: 44.5'
Lot Depth: 107.9'
Water Service: Municipal
Sewer Type: Municipal
Legal Description: A certain parcel of land being known as Lot 17 and ½ of Lot 18, Square 184, Seventh Municipal District of New Orleans, State of Louisiana measuring approximately 42’ x 102 / 107’ and as per title. The property also bears the municipal address of 721-723 Valmont Street, New Orleans, Louisiana

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,918 150,451 373,330
Median Age: 37.81 36.1 37.13
Households: 10,294 63,127 154,913

Contact

Photograph of Listing Agent

S. Parkerson (Parke) McEnery

The McEnery Company
New Orleans, LA
LACDB Member
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