Student Housing Portfolio

Multi-Family for Sale
Catylist Listing ID: 30860649
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Student Housing, Other
Number of Units: 11 Units
Building Size (RSF): 4,264 SF
Gross Building Area: See Agent
Gross Land Area: 9,647 SF
Sale Price: $1,695,000
Unit Price: $154,090.91 Per Unit
Property Use Type: Investment, Business
Sale Terms: Undisclosed, Cash to Seller, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 3/1/2024

Overview / Comments

Exceptional university area investment opportunity located a short walk from Tulane’s campus. 1526-28 Hillary is a one story structure measuring 2,034 sq/ft, containing Five total bedrooms and Three bathrooms. There is a spacious fenced yard with exterior storage. 1530-32 Hillary is two stories and measures 2,230 sq/ft, containing Six total bedrooms and Two Bathrooms. There is a larger screened porch area in the rear as well as a large storage are containing laundry facilities. Each of the buildings underwent and extensive renovation in 2022. Ample off-street parking. Each building is on a master lease providing for ease of monthly rent collections and tenant retention. Stabile and secure income with existing barriers to entry for competing assets.

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Taxing Authority: Orleans Parish
Tax ID/APN: 716204708, 716204709
Zoning: HU-RD2
Percent Occupied: 100%
Property Located Between: Jeannette & Birch
Total Number of Buildings: 2
Property Condition: Excellent
Number of Stories: 2
Year Renovated: 2022
Roof Type: Gable
Construction/Siding: HardiePlank Siding
Parking Type: Other
Parking Description: Ample off-street parking and two spacious garages
Laundry: Shared
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central
Fuel: Gas, Electric
Air Conditioning: Engineered System
Internet Access: Cable, DSL, Satellite, Gigabit
Zoning Description: Historic Urban Two-Family Residential District
Lot Frontage: 76
Lot Depth: 120
Water Service: Municipal
Sewer Type: Municipal
Legal Description: SQ 189 LOT X HILLARY, 38-31 X 137-120, 1528-26 HILLARY SQ 189 LOT F HILLARY, 38 X 120, 1530-32 HILLARY

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 29,965 166,998 403,208
Median Age: 31.19 36.39 37.95
Households: 11,631 72,141 174,701

Contact

Photograph of Listing Agent

Cameron Griffin

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
Photograph of Listing Agent

Troy Hagstette

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
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