Mid-City 4-Plex

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30197387
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 4 Units
Building Size (RSF): 3,140 SF
Gross Land Area: 6,480 SF
Sale Price: $550,000
Unit Price: $137,500 Per Unit
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 10.24%
Last Updated: 1/29/2018

Overview / Comments

Mid-Century style 4-plex in central Mid-City location–one block to Canal/Carrollton streetcar with access to Downtown & City Park, walkable to neighborhood eateries, Bayou St. John & Jazz Fest. 4 x 785sf units with 2 bed/1 bath each, very well-kept with assigned off-street parking, secure fence & large backyard with covered patio. Each unit is light & bright, features include kitchen with gas range/oven, central HVAC, washer/dryer hookups & closet space.

Zoned HU-MU, which permits all 3 types of short-term rentals.

Property is currently vacant, so financials are proforma except as noted.

Attachments & Media

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: MidCity/City Park
Submarket Type: Historic District
Tax ID/APN: 41021121
Zoning: HU-MU
Percent Occupied: 0%
Property Located Between: N. Cortez & N. Telemachus
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1958
Year Renovated: 2006
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Total Parking Spaces: 4
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Air Conditioning: Package Unit
Lot Frontage: 54
Lot Depth: 120
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Square 503, Lots 7 & 8

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 26,742 193,452 376,797
Median Age: 34.29 36.72 37.24
Households: 11,008 84,229 162,580


Photograph of Listing Agent

Jonathan D Shaver

RE/MAX Commercial Brokers Inc Metairie, LA 70002
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