1827 Rampart StNew Orleans, LA 70113

Property Details for 1827 Rampart St

Year built

1920

Lot size

0.06 AC

Property size (Sq ft)

6,403 SF

Property type

Investment properties

Property subtype

Live-work space

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.

• 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

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

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