Catylist ID:
#30840780
FQ Historic Redevelopment Opportunity + Tax Incentives
Multi-Family
for Sale
| Catylist Listing ID: | 30840780 |
| Property Subtypes: | Low-Rise/Garden, Other |
| Number of Units: | 20 Units |
| Building Size (RSF): | 12,730 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 6,365 SF |
| Sale Price: | $3,800,000 |
| Unit Price: | $190,000 Per Unit |
| Property Use Type: | Investment, Business |
| Sale Terms: | Undisclosed, Cash to Seller, Other |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/16/2024 |
Overview / Comments
|
French Quarter 20-Unit Multi-Family for Sale. Two (2) buildings connected by adjoining courtyards and a pool! Balconies and porches overlooking Chartres Street. Each unit is separately metered for utilities. Tax incentives available: A Part 1 Application for Federal & State Historic Tax Credits has been APPROVED will enable Historic Tax Credits of up to 45% percent for qualifying construction expenditures. The Two original Greek Revival double townhouses, were designed in 1846 by notable architect, J.N.B: De Pouilly. Located just between Royal Street & Decatur Street and the historic French Market, the building is located in the quiet residential section of the Quarter, but also steps to all of the world class dining and entertainment venues, the property is well positioned for condo conversion or long-term rental. Due to extenuating circumstances, the current owners have elected to move the property after partial renovation. Approximately 60% of renovation has been completed. 10 Units in 1216 Chartres are close to "vanilla box" form. Less work has been performed on the 10 Units in 1220-26 Chartres. |
Attachments & Media
Additional Details
| Nearest MSA: | New Orleans-Metairie |
| County: | Orleans |
| Submarket/Township: | French Quarter |
| Taxing Authority: | Orleans Parish |
| Tax ID/APN: | 208100405 |
| Zoning: | VCR-2 |
| Community Amenities: | Outdoor Pool, Restaurant(s) |
| Property Located Between: | Gov. Nicholls & Barracks |
| Total Number of Buildings: | 2 |
| Number of Stories: | 2 |
| Year Built: | 1846 |
| Year Renovated: | 1973 |
| Zoning Description: | Vieux Carre Residential District |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 23,068 | 175,027 | 391,138 |
| Median Age: | 40.29 | 36.3 | 36.5 |
| Households: | 12,093 | 77,025 | 164,146 |
Contact
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