Address: 1601 Lesseps Street, New Orleans, LA 70117
We’re pleased to announce the successful sale of the multi-family property at 1601 Lesseps Street, New Orleans, LA 70117. The transaction was a positive experience for both the buyer and seller. The Buyer paid in Cash, which made the transaction easier and quicker to close. The property consists of two well-maintained buildings with eight fully occupied apartments and offers eight off-street parking spaces for tenants. This property promises steady cash flow and potential rent growth. It was a solid investment opportunity that both parties are happy to have completed.
List Price: $700,000
Capitalization Rate: 10.54%
Net Operating Income: $73,798 per annum
GBA: +/- 7,362 square feet
Occupancy: 100%
Total Combined Site Size: +/- 6,696 SF
Zoning: HU-B1 – Historic Urban Neighborhood Business District
Property Mix: An assemblage of eight (8) residential units distributed across two (2) distinct buildings. Each unit is designed with two (2) bedrooms and one (1) bathroom, embodying a well-conceived and attractive residential configuration.
Please contact Cameron Griffin at 504-535-5680 for more information.
