1827 Rampart StNew Orleans, LA 70113

  • Mixed-use properties
  • 6,403 SF
For Sale
$799,999 View listing

Property Details for 1827 Rampart St

Year built
1920
Lot size
0.06 AC
Property size (Sq ft)
6,403 SF
Property type
Mixed-use properties
Property subtype
Other investment properties
APN
412204606
APU
412204606

Description

This exceptional mixed-use property, located at 1827 S Rampart St in New Orleans, Louisiana, presents a compelling investment opportunity. The 6,403 square foot building boasts a prime location, just a block from Simon Bolivar Ave and within a 5-10 minute drive of US 90 Business, the vibrant French Quarter, and the bustling Central Business District. This strategic positioning ensures high visibility and accessibility, attracting significant foot traffic and offering substantial development potential. The property features a spacious ground floor, ideal for a variety of commercial uses, currently configured as an event space. Upstairs, two residential units, currently occupied under Section 8 housing, provide a consistent stream of rental income. The building is a two-story structure with an Orleans Parish APN of 412204606 and a zip code of 70113. Offered at $799,999, this translates to a price per square foot of $124.94. This property is perfect for investors seeking a blend of commercial and residential income in a thriving New Orleans neighborhood. The combination of a versatile ground floor space and stable rental income from the upper-level units makes this a truly unique and attractive investment. Don't miss this chance to own a piece of New Orleans' vibrant commercial landscape.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,015,397
    6.5%
    $937,290
    7%
    $870,341
  • Comparable approach

    Method
    Valuation
    Relative Method
    $488,427
    Geo Method
    $455,189
  • Alternative Use

    Use
    Valuation
    Residential
    $1,162,239
    Hospitality
    $1,064,605
    Educational
    $885,739
    Medical
    $916,201
    Retail
    $1,377,816
1827 Rampart St, New Orleans, Louisiana

Location Insight

City
New Orleans
County
Orleans
State
Louisiana
Latitude
29.9395
Longitude
-90.0822
CBSA code
35380
CBSA name
NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
-
$1,330
$35,310
$36,640
-
$13,300
$316,700
$330,000

FAQs

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