French Quarter Apartments For Sale

Multi-Family for Sale
Catylist Listing ID: 30733222
Property Subtypes: High-Rise, Low-Rise/Garden
Number of Units: 15 Units
Building Size (RSF): 13,403 SF
Gross Building Area: 15,224 SF
Sale Price: $3,750,000
Unit Price: $250,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/10/2022

Overview / Comments

An extraordinary French Quarter opportunity! This 150+ year old historic three building assemblage with shared alleyways and courtyards, with a total of fifteen (15) residential units. Located just off Decatur Street and the historic French Market, the building is immediate to many of the Quarter's famous dining and entertainment venues. The improvements consist of 15 units situated on three separate parcels of record. There are a total of two courtyard areas, as well as three open-air common hallways and stairwells. Balconies on both the second and third floor units fronting Governor Nichols St., as well as on the second floor of the rear units fronting the courtyards. Each unit has separately metered utilities. The unit mix is included in the offering detail. 516-524 Governor Nichols is an excellent opportunity for re-development utilizing State and Federal Historic Tax Credits or condominium conversion.

$19,340 per month (based off existing below market rents and w/ current rents on vacancy)

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: French Quarter
Tax ID/APN: 41023240

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 22,048 176,638 391,235
Median Age: 40.61 36.23 36.54
Households: 11,677 77,629 164,158


Photograph of Listing Agent

Troy Hagstette

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

S. Parkerson McEnery

The McEnery Company Inc New Orleans, LA 70112
LACDB Member
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