8-Unit Multi-Family Asset

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30829863
Property Subtypes: Low-Rise/Garden, Other
Status: Pending/Contingent
Number of Units: 8 Units
Building Size (RSF): 7,362 SF
Gross Building Area: See Agent
Gross Land Area: 6,696 SF
Sale Price: $750,000
Unit Price: $93,750 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed, Cash to Seller, Other
Cap Rate: 9.8%
Average Occupancy Rate: 100
Last Updated: 4/15/2024

Overview / Comments

An excellent opportunity to acquire a thriving multi-family property in the vibrant New Orleans locale! The property is comprised of two (2) well-maintained buildings housing a total of eight (8) fully occupied apartments. Boasting a total of eight (8) individual off-street parking spaces exclusively for tenants, convenience is at the forefront. These properties are stabilized, with in-place cash flow but also strategically located near other stabilized bustling neighborhoods, renowned retailers, esteemed schools, and bustling workplaces, ensuring stability and promising rent appreciation. Don't miss out on this golden investment opportunity!

This property can be sold individually or combined with 2825 Amelia Street, New Orleans, LA which has an additional ten (10) leased units.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Taxing Authority: Orleans Parish
Tax ID/APN: 39W405826
Zoning: HU-B1 - HISTORIC URBAN NEIGHBORHOOD DISTRICT
Percent Occupied: 100%
Property Located Between: N. Claiborne Avenue & N. Derbigny Street
Airports: MSY
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Renovated: 2007
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Parking Description: Boasting a total of eight (8) individual off-street parking spaces exclusively for tenants, convenience is at the forefront.
Total Parking Spaces: 8
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Satellite
Zoning Description: The HU-B1 Neighborhood Business District is intended for commercial areas that predominantly serve the needs of the nearby residential neighborhoods. The general character of this type of development should be sensitive to and compatible with its residential surroundings. In addition to commercial uses, this district provides for single-family dwellings, two-family dwellings and can accommodate small-scale multi-family dwellings. This district also allows higher residential densities when a project is providing significant public benefits such as long-term affordable housing.
Lot Frontage: 124
Lot Depth: 108
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Legal Description: SQ 721 LESSEPS ST AND N CLAIBORNE AV LOTS 1 & 2 31X108 EACH 1601-03-05-07 LESSEPS ST. SQ 721 LOTS 3 & 4 31X108 EACH 1609-11-13-15 LESSEPS ST.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,113 115,893 322,550
Median Age: 37.34 37.75 35.63
Households: 5,369 50,521 133,603

Contact

Photograph of Listing Agent

Cameron Griffin

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
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