The McEnery Company has been retained as the exclusive marketing agent for 800 Louisa Street. The offering is a rare opportunity to acquire a renovated historic mixed-use property positioned on one of the best corners in the heart of the Bywater with strong cash flow. Property is fully permitted for short term rentals in zoning district that allows for such operation 365 days per year.
This 3,427 square-foot, two-story building was fully renovated in 2012 with an additional wrap-around gallery. The beautiful renovation maintained the historic elements of the building, while also adding modern amenities that will serve the property well for years to come.
The 1,919 square-foot first floor is utilized as a restaurant known as Paloma Café through a long-term triple net lease. The second floor is a 1,508 square foot, three-bedroom, two-bathroom apartment that has been generating extremely impressive and steady income figures through short term rentals over the past two years. Over $125,000 in annual income currently generated by both units with scheduled commercial rent increases in each of the next few years. Full income and expense information is available upon request.
Property is also available to be purchased as a potentially discounted package deal with a gorgeous recently renovated historic multi-family at 709 Jackson Avenue in the Lower Garden District. See agent for details.
Please contact Pat Browne III at 504.250.3059 for additional information or to schedule a showing. 24 hour advanced notice is requested for showings.