19 Unit Multi-Family Package

Multi-Family for Sale
Catylist Listing ID: 30714549
Property Subtypes: Duplex/Fourplex
Number of Units: 19 Units
Building Size (RSF): 14,679 SF
Gross Building Area: See Agent
Sale Price: $2,500,000
Unit Price: $131,578.95 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/13/2021

Overview / Comments

Excellent investment opportunity in the Heart of New Orleans! Located just one block off Lasalle and several blocks from Louisiana Avenue, the improvements consist of nine (9) separate buildings containing a total of Nineteen (19) Two Bedroom Units, One (1) One-Bedroom with a Net Rentable Area of 14,679 SF.

Six (6) of the seven (7) doubles on Freret have Part I & Part II historic tax credit applications approved. Five (5) of the Freret doubles are approximately 85% complete, with the kitchens and bathroom and various finish work to be completed, meaning the accrued HTCs can transfer to a new owner to complete. 2613-17 Second Street and 2515-17 Magnolia are currently occupied. 2515-17 Magnolia has a third unit at the rear of the property that is currently vacant. Purchase price includes a buildable lot on Third Street!

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Zoning: HU-RD2
Total Number of Buildings: 9
Number of Stories: 1
Year Renovated: 2020
Roof Type: Gable
Parking Description: Plenty of Room for off-street parking at the rear of the Freret properties accessed of Second Street.
Zoning Description: HU-RD2
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 31,796 200,389 411,726
Median Age: 36.73 35.75 37.25
Households: 15,100 87,724 173,430

Contact

Photograph of Listing Agent

Gordon McLeod

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
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