Catylist ID:
#30837112
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: | $2,200,000 |
| Unit Price: | $275,000 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 100 |
| Vacation Rental Income: | Yes |
| Last Updated: | 5/25/2023 |
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 ***To access the FINANCIALS (rent roll, income, expense, etc.), please click “Offering Memorandum” below. From there, you’ll be able to login, sign the Confidentiality Agreement electronically, and access all of the available information. If you don’t already have an account, you can create one for free.*** |
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 |
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
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