For Sale
$1,499,000

1900 St Philip StNew Orleans, LA 70116

7-Unit, Renovated New Orleans Investment

Property records and analytics

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 7-unit multifamily investment portfolio in New Orleans' vibrant Treme neighborhood presents a compelling opportunity. Comprising three renovated duplexes and one single-family home, all situated within a single city block, this stabilized property boasts a total of 6,740 square feet. Each of the four buildings underwent complete renovations in 2023, encompassing new roofs, electrical systems, and plumbing. The three duplexes are currently generating a combined monthly rental income of $8,140 from long-term tenants. The single-family home operates as a successful short-term rental (STR), projecting monthly income between $4,000 and $6,000. Conveniently located minutes from the French Quarter and downtown, this portfolio offers easy access to major highways (I-10 and US-90), and is in close proximity to University Medical Center and the VA Hospital. Built in 1923, this property is zoned HU-RD2. The asking price is $1,499,000, representing a price per unit of $214,143. Owner financing and bond for deed options are available. An included LLC offers a cost segregation study, providing a substantial first-year tax deduction of $611,000. This turnkey investment is ready for immediate income generation. Detailed financial information is available upon request.

Highlights

  • $1,499,000 asking price for a stabilized multifamily investment.
  • Seven-unit portfolio consisting of three duplexes and one single-family home.
  • Located in the Treme neighborhood of New Orleans, LA, near major hospitals and highways.
  • 6,740 square feet across four buildings, all renovated in 2023.
  • $214,143 per unit price; long-term tenants in three duplexes generating $8,140 monthly rental income; short-term rental potential in the single-family home.

Property Details for 1900 St Philip St

Property type
Residential income homes
Square Feet
6,740 SF
Year Built/Renovated
1923/2023
Buildings
4
Stories
1
Units
7

Location Insight

City
New Orleans
County
Orleans Parish
State
Louisiana
Latitude
29.967683330328
Longitude
-90.073066824467
1900 St Philip St, New Orleans, Louisiana

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Contacts

Logan Macrae
Logan Macrae
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1900 St Philip St, New Orleans, Louisiana, 70116

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Disclaimer

The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.

We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.

By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.

1900 St Philip St
  • Logan Macrae
    Logan Macrae
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