2536 Conti StNew Orleans, LA 70119

Property Details for 2536 Conti St

Year built

1950

Construction

BRICK

Lot size

0.22 AC

Property size (Sq ft)

4,356 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

206203431

APU

206203431

Description

This exceptional 19-unit apartment building in New Orleans' Mid-City neighborhood presents a compelling investment opportunity. The property boasts a total of 5,896 square feet across four one-story buildings situated on a 12,705 square foot lot. Completely renovated in 2017, the property features new exteriors and interiors, including paint, flooring, lighting, counters, cabinets, sheetrock, structural improvements, bathrooms, appliances, and fixtures. A new roof was installed in 2022. Each studio unit (approximately 250-300 square feet) includes one bedroom and one bathroom, currently generating monthly rents between $795 and $845. The property is currently 100% occupied as of February 27, 2024, offering immediate cash flow. An assumable mortgage with a 3.5% interest rate is available. The property's prime location offers significant advantages, with Whole Foods adjacent, and the LSU Health Sciences Center and the New Orleans Veterans Medical Center just blocks away, providing a large and stable pool of potential tenants. The Lafitte Greenway is also within easy walking distance. The asking price is $1,790,000, or $94,210.53 per unit, and a rent roll is available upon request. This turnkey investment offers strong potential for future rental income growth.

• CAP approach

  CAP return

  Valuation

  6%

  $856,568

  6.5%

  $790,679

  7%

  $734,202

• Comparable approach

  Method

  Valuation

  Relative Method

  $515,033

  Geo Method

  $479,985

• Alternative Use

  Use

  Valuation

  Residential

  $790,679

  Hospitality

  $724,257

  Educational

  $602,574

  Medical

  $623,297

  Retail

  $937,337

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.9668

Longitude

-90.0836

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].