725-27 Desire | Bywater Duplex

Multi-Family for Sale
Catylist Listing ID: 30834233
Property Subtypes: Duplex/Fourplex
Number of Units: 2 Units
Building Size (RSF): 1,882 SF
Gross Land Area: 3,480 SF
Sale Price: $775,000
Unit Price: $387,500 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Last Updated: 3/16/2023

Overview / Comments

Rare opportunity to purchase a newly constructed Townhouse Style Duplex with an in-ground pool in the Bywater Neighborhood in New Orleans. Close proximity to the French Quarter, Marigny and CBD. Conveniently located just steps from Satsuma, Alma, Bywater Bakery, Elizabeth's, & The Country Club. The property is zoned HMR-3 and is currently tenant occupied. It can be sold as a package deal along with 3400 Dauphine St., which is also listed for sale!

Capitalization Rate: 7% (Market Range)
NOI: $145,000?GBA: +/- 2,102 SF
Total Living Area: +/- 1,882
Total Site Size: +/- 3,480 SF
?Zoning: HMR-3 - Historic Marigny/Tremé/Bywater Residential District
Property Mix: Two 1BD units in Two-Story Building

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Taxing Authority: Orleans Parish
Tax ID/APN: 39W107917
Community Amenities: Outdoor Pool
Property Located Between: Ro??al, Da??phine, Piety????, Gallie??
Airports: Louis Armstrong International Airport
Area Description: The 1.33 square mile Bywater Neighborhood is well situated within walking distance of the French Quarter and the Central Business District, a short drive to City Park, and easily accessible to the Chalmette and Arabi Neighborhoods. The food, entertainment, and art scenes in the Bywater are some of the best in the City. Various art, music, theatre venues, restaurants, and parks are within walking distance. In 1993 the City of New Orleans Historic District Landmarks Commission named the neighborhood an official city Historic District, effectively protecting the 120-block area and over 2,000 buildings. The Bywater’s convenient location, ample amenities, and bustling social scene have made it one of the most active areas in New Orleans for new/re-development in recent years. The total population of Bywater saw a large decrease in population following Hurricane Katrina, and it has since emerged as a very trendy neighborhood. Population levels are anticipated to continue substantial increase over the next few years.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 2020
Construction/Siding: Brick/Vinyl Siding
Heat Type: Natural Gas
Heat Source: Central
Zoning Description: Zoning: HMR-3 - Historic Marigny/Treme/Bywater Residential District
Lot Frontage: 29
Lot Depth: 120
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: SQ 174 LOT 5 OR 19 DESIRE 29 X 120

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,477 137,901 359,878
Median Age: 37.92 37.43 35.63
Households: 8,295 61,149 148,830


Photograph of Listing Agent

Phillipa Bowers

Reve REALTORS New Orleans, LA 70115
LACDB Member
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