Address: 3300 Preston Place, New Orleans, LA 70131
3300 Preston Place offers a prime multi-family investment opportunity in the Algiers submarket of New Orleans, featuring 81 garden-style units across 72,100 SF on a 1.66-acre infill site surrounded by established single-family neighborhoods. Built in the 1970s and renovated in 2022, the property is currently 95% occupied and delivers an attractive mix of one- and two-bedroom units averaging 890 SF with average rents of $997 per unit ($1.12/SF). The community includes controlled access, on-site laundry facilities, 108 grade-level parking spaces, central air conditioning, and a standalone leasing office. Additional enhancements include updated gable roofs with warranties, individually metered electricity, and water/sewer services paid by ownership, all contributing to operational stability. With its strategic location, durable renovations, and consistent tenant demand, 3300 Preston Place is positioned as a stable and scalable income-producing asset.
List Price: $4,425,000 |$54,600 Per Unit | $61 Sq/Ft
NOI: $369,670
GBA: +/- 72,100 Sq/Ft
# of Units: 81
Size Size: +/- 3.35 Acres
Zoning: HU-RM1
For further listing details please contact Troy Hagstette 504-251-5719 or Parke McEnery 504-236-9542.
