728 Desire St
New Orleans, LA 70117
728 Desire | Bywater 6-Plex w/ Revenue · Multifamily Property For Sale
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6 Units
INVESTMENT HIGHLIGHTS
- he improvements consist of 4,495 SF of rentable space, with a total of 6 apartments with off-street parking.
- The building is well maintained and has stabilized in-place cash flow.
EXECUTIVE SUMMARY
Great opportunity to purchase a high occupancy multi-family asset in the Bywater Neighborhood in New Orleans. The improvements consist of 4,495 SF of rentable space, with a total of 6 apartments with off-street parking. The building is well maintained and has stabilized in-place cash flow. The location and proximity to the surrounding neighborhoods and the direct proximity of multiple retailers, schools, and places of work provide stability and rent appreciation. The property is zoned HMR-3 - Historic Marigny/Tremé/Bywater Residential District.
SUMMARY:
List Price: $1,250,000
Capitalization Rate: 7% (Market Range)
NOI: $145,000?GBA: +/- 4,495 SF - 100% Occupancy (Long and Shorter Term Rentals)
Total Site Size: +/- 8,400 SF?Zoning: HMR-3 - Historic Marigny/Tremé/Bywater Residential District
Property Mix: 6 units total: One Partial Two-Story Building
Unit Makeup: (4) 1BD/1BA, (2) 1BD/1.5BA
SUMMARY:
List Price: $1,250,000
Capitalization Rate: 7% (Market Range)
NOI: $145,000?GBA: +/- 4,495 SF - 100% Occupancy (Long and Shorter Term Rentals)
Total Site Size: +/- 8,400 SF?Zoning: HMR-3 - Historic Marigny/Tremé/Bywater Residential District
Property Mix: 6 units total: One Partial Two-Story Building
Unit Makeup: (4) 1BD/1BA, (2) 1BD/1.5BA
PROPERTY FACTS
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 7.99% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 4,495 SF |
| No. Stories | 2 |
| Year Built | 2019 |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Surround Sound
- Wi-Fi
PROPERTY TAXES
| Parcel Number | 3-9W-1-078-16 | Improvements Assessment | $58,300 |
| Land Assessment | $25,200 | Total Assessment | $83,500 |
