Close to Tulane, renovated on huge lot w/off street parking

Multi-Family for Sale
Also listed as Business Opportunity
Catylist Listing ID: 29635657
Property Subtypes: Duplex/Fourplex, Other
Number of Units: 5 Units
Building Size (RSF): 5,200 SF
Gross Building Area: 5,700 SF
Gross Land Area: 30 - 120 SF
Sale Price: $699,900
Unit Price: $139,980 Per Unit
Property Use Type: Investment
Building Name: 2217 Napoleon Ave
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 1/10/2019

Overview / Comments

This Historic building has been delicately maintained and renovated. Stays fully rented. Take advantage of this golden opportunity close to Tulane, Loyola and hospitals.

Plumbing, electrical, new exterior cypress and hardiboard siding and more completed within last 5 years. Nothing to do but collect money!

Unit 1: 2 bedroom, 1.5 baths, (2217A Napoleon)
Unit 2: 2 bedroom, 1 bath
Unit 3: 3 bedrooms, 3 baths(two stories)
Unit 4: 1 bedroom, 1 bath with study overlooking Napoleon Ave.(2219)
Unit 5: 1 bedroom, 1 bath.

LINK TO MORE PICS and PLANS:
2217_Napoleon_Ave
Many upgrades.

Gross Rental Income $63,700.00
Hazard Insurance $3,500 6/1/2018
Flood Insurance $700
Taxes $6,541
Water: $3240
Maintenance: $1,500
Annual Expenses $15,481
Annual Net Income $48,219

Financials

Finance Data Year 2016
Real Estate Taxes - Annual($) $9,860 (Annual)
Gross Operating Income $54,720 (Annual)

Additional Details

Nearest MSA: New Orleans-Metairie
County: Orleans
Submarket/Township: Uptown-Garden District
Zoning: HU-RD2
Percent Occupied: 100%
Market Type: Large
Property Located Between: Freret Street and St Charles Avenue
Road Type: Paved
Transportation: Taxi
Highway Access: I-10
Airports: MSY
Site Description: Double deep lot located on tree lined Napoleon Avenue.
Area Description: Centrally located Uptown neighborhood on parade route.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1920
Year Renovated: 2006
Roof Type: Gable
Construction/Siding: HardiePlank Siding
Exterior Description: Most exterior is original clapboard, with some Hardiboard. Significant Repairs made to the exterior in past 6 months. 6 off-street parking spaces in rear.
Parking Type: Surface
Parking Description: 6 parking spaces in rear of building
Total Parking Spaces: 6
Laundry: Shared
Heat Type: Electricity, Natural Gas
Heat Source: Central, Wall Units, Radiant
Fuel: Gas, Electric
Air Conditioning: Package Unit, Window Unit
Internet Access: Cable
Interior Description: All units renovated Post Katrina, with some more substantial than others.
In Flood Plain?: Yes
Lot Frontage: 60
Lot Depth: 120
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 1. SQ 545 LOTS 5 6 2. 30X120 EA 5-UNITS/APTS 3. 2217-21 NAPOLEON AVE 4. 7-APTS-W 5. FILE #93975 3/08

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 36,805 182,787 396,428
Median Age: 35.39 36.02 37.15
Households: 16,515 79,215 166,479

Contact

Photograph of Listing Agent

Ian Cockburn

John Anthony Realty LLC New Orleans, LA 70113
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.