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: 11/22/2022

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

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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

Photograph of Listing Agent

Henry Shortess

SVN Urban Properties New Orleans, LA 70130
LACDB Member
Photograph of Listing Agent

Timothy Thompson

SVN Urban Properties New Orleans, LA 70130
LACDB Member
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