Multi Family Investment Package

Multi-Family for Sale
Catylist Listing ID: 30392403
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Other
Number of Units: 9 Units
Building Size (RSF): 6,233 SF
Gross Building Area: 6,500 SF
Gross Land Area: 10,240 SF
Sale Price: $1,800,000
Unit Price: $200,000 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Building Name: 1322-28 Esplanade Ave
Usable Size (USF): 6,233 SF
Sale Terms: Cash to Seller
Cap Rate: 7.1%
Gross Rent Multiplier: 11.50
Last Updated: 3/12/2019

Overview / Comments

2 Historic Multi family buildings being sold as a package. 1322 Esplanade (4 units) and 1328 (5 units). $156,000 in annual rents, all units occupied. 3 blocks to the Historic French Quarter of New Orleans. Potential for condo coversion or investment package. All tenants would like to remain. Please allow for 48 hours notice to show. Rental breakdown available upon request

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Greater New Orleans
Taxing Authority: City of New Orleans
Percent Occupied: 100%
Property Located Between: I-10 and the French Quarter, in the Historic Treme
Highway Access: 3 blocks to I-10 / 610
Airports: MSY
Site Description: Quality historic property featuring balconies, porches and private courtyard, blue chip location!
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Built: 1840
Year Renovated: 2008
Construction/Siding: Wood Frame
Laundry: Shared
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central, Wall Units
Fuel: Electric
Air Conditioning: Package Unit, Window Unit, Other
Internet Access: Cable
Interior Description: Highly desirable
Zoning Description: Zoned for Multifamily
Lot Frontage: 64
Lot Depth: 160
Water Service: Municipal
Sewer Type: Municipal
Easements: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 28,349 177,723 376,044
Median Age: 39.12 36.18 36.45
Households: 13,895 77,280 159,015


Photograph of Listing Agent

Eric Wilkinson

French Quarter Realty New Orleans, LA 70116
Not a member of MCAR CIE
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