NOLA Multifamily Opportunity with Significant STR Income

Multi-Family for Sale
Catylist Listing ID: 30837112
Property Subtypes: Government Subsidized, Low-Rise/Garden
Number of Units: 8 Units
Building Size (RSF): 5,850 SF
Gross Land Area: 0.19 Acres
Sale Price: $2,400,000
Unit Price: $300,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Vacation Rental Income: Yes
Last Updated: 3/17/2023

Overview / Comments

The property has undergone a full renovation and now boasts a modern look with curb appeal. The current owner has put over $500,000 into renovations since purchasing in 2018.

All 6 of the residential units are currently leased, and the property currently has two short term rental AirBnB units averaging significant additional income (2.6x monthly income of the highest residential rent).

The property is located within the Central City neighborhood, just 3 blocks off of St Charles Ave and 5 minutes from S Claiborne Ave, giving it convenient access to the interstate and several New Orleans tourism hotspots.

• Full renovation since 2018
• Residential units 100% Occupied
• 2 STR AirBnB units producing significant additional income
• Located 3 blocks off St. Charles Ave

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Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Tax ID/APN: 412202709
Zoning: HU-RD2 – HISTORIC URBAN TWOFAMILY RESIDENTIAL DISTRICT
Percent Occupied: 100%
Airports: Louis Armstrong New Orleans International Airport (MSY)
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 1
Parking Type: Surface
Lot Frontage: 100
Lot Depth: 82

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 36,149 191,668 403,689
Median Age: 36.97 35.97 37.04
Households: 17,536 82,929 168,716

Contact

Photograph of Listing Agent

Brett Sanchez

Elifin Realty Baton Rouge, LA 70801
LACDB Member
Photograph of Listing Agent

Mark R Segalla

Elifin Realty Baton Rouge, LA 70801
LACDB Member
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