NOLA Investment Asset Near Downtown and University

Multi-Family for Sale
Catylist Listing ID: 30820148
Property Subtypes: Low-Rise/Garden
Number of Units: 7 Units
Building Size (RSF): 1 SF
Gross Building Area: See Agent
Sale Price: $900,000
Unit Price: $128,571.43 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/6/2022

Overview / Comments

This portfolio property consists of a fourplex, 3100 Gravier St, and a triplex, 713-715 S Salcedo St. Each of the 7 units have individual electric meters and the electricity is covered by tenants.

Potential boost of rental income if used as STR.

The portfolio is conveniently situated just ±1.5 miles to Downtown New Orleans and the Superdome. It is also ±1.4 miles to Costco, ±1.2 miles away from Xavier University, and ±0.1 miles from the new mixed-use development, Crescent Club.

The properties are situated on a corner and enjoy ample street parking.

S Salcedo's roof, gutters, downspouts, and awning were replaced at the end of 2021. The roof of 3100 Gravier St was replaced in 2017. Several units have been recently updated and some have brand new appliances.

• Fourplex and triplex
• Potential boost of rental income if used as STR
• Nearby Downtown New Orleans and Xavier University
• Corner property – ample street parking

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Tax ID/APN: 41036002
Zoning: MU-2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,897 204,613 399,398
Median Age: 31.42 36.72 37.25
Households: 9,001 90,909 171,252

Contact

Photograph of Listing Agent

Brett Sanchez

Elifin Realty Baton Rouge, LA 70801
LACDB Member
Photograph of Listing Agent

Mark R Segalla

Elifin Realty Baton Rouge, LA 70801
LACDB Member
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