Catylist ID:
#30824906
Hollygrove Development Opportunity: ~2.5 acres + Seven 4-Plexes
Multi-Family
for Sale
| Catylist Listing ID: | 30824906 |
| Property Subtypes: | Duplex/Fourplex, Other |
| Number of Units: | 29 Units |
| Building Size (RSF): | 30,341 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 112,500 SF |
| Sale Price: | $2,600,000 |
| Unit Price: | $89,655.17 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 9/22/2023 |
Overview / Comments
|
Located in the Hollygrove neighborhood of New Orleans, the offering includes several tracts of land with a total area of approximately 112,500 square feet (~2.58 acres), and also includes 29 units across a single family residence plus seven (7) 4-plexes. This package represents a compelling opportunity for single or multi family development, and is listed for sale for $2,600,000. The properties within the offering are zoned HU-RD1, HU-RD2 or HU-RM1. Offering Details: 1) 8600 Olive St.: approx. 2,200sf residence situated on 5,022sf land Additional Notes: The ~2,200sf existing single family residence is likely in need of complete interior renovation. 2) 8604 Olive St.: 17,654sf lot 3) 8631-37 Olive St.: 4,068sf four-plex (two story) on 6,250sf lot Additional Notes: Each unit is 2 bed/1 bath. 4) 3409 Monroe St.: 4,068sf four-plex (two story) on 6,250sf lot Additional Notes: Each unit is 2 bed/1 bath. 5) 3411-15 Monroe St.: 4,068sf four-plex (two story) on 6,250sf lot Additional Notes: Each unit is 2 bed/1 bath. 6) 3421 Monroe St.: 4,068sf four-plex (two story) on 6,250sf lot Additional Notes: Each unit is 2 bed/1 bath. 7) 3429-39 Monroe St.: 2 separate ~3,900sf four-plexes (each are two story) on 12,500sf lot Additional Notes: Each unit is 2 bed/1 bath. 8) 8600 Edinburgh St.: 7,500sf lot 9) 3400 Leonidas St.: 6,250sf lot 10) 3404 Leonidas St.: 6,250sf lot 11) 3408 Leonidas St.: 6,250sf lot 12) 3412 Leonidas St.: 6,250sf lot 13) 3416 Leonidas St.: 6,250sf lot 14) 8605-07 Olive St.: Two story 4,068sf four-plex on 6,250sf lot Additional Notes: Each unit is 2 bed/1 bath. 15) 8609 Olive St.: 7,500sf lot Current Rental Income: The units are currently generating $6,700/month. |
Attachments & Media
Additional Details
| Nearest MSA: | New Orleans-Metairie |
| County: | Orleans |
| Submarket/Township: | Greater New Orleans |
| Tax ID/APN: | 716408003 |
| Property Condition: | Fair |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 23,430 | 191,501 | 399,143 |
| Median Age: | 35.13 | 37.08 | 37.78 |
| Households: | 9,719 | 84,017 | 173,961 |
Contact
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