Residential Income
223-25 Alix Street New Orleans, LA 70114
223-25 Alix Street, New Orleans, LA, 70114
$410,000
For Sale
$410,000
Auction sale of an occupied multifamily asset sold as-is with no interior access or inspections permitted.
Property Size2,150 SF
Price / SF$190.70
Days on Market84
Property Features for 223-25 Alix Street
General Information
- Standard status
- Active
- Size
- 2,150 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1920
Listing agency
Audubon Realty, LLC
(504) 616-6208
Listed by
David Reso · License #000014419
(504) 616-6208
Source
Compass
Added: Apr 30 Updated: Jul 10 at 1:50PM Checked: Jul 22 at 6:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Audubon Realty, LLC
Investment Insights
Based on property information with market context.
This residential income property is being offered under auction terms. The building is occupied, and access is restricted: no interior access is allowed, occupants must not be disturbed, and trespassing is prohibited. Any inspections of the property are not permitted, and the sale will be conducted in as-is condition and subject to occupancy.
The property is located at 223-25 Alix Street in New Orleans, Louisiana 70114.
This offering may suit buyers who are comfortable acquiring an occupied multifamily asset with limited ability to conduct interior due diligence. Because inspections are not allowed and there is no interior access, prospective bidders should plan their review around information available without entering the unit(s). As with any occupied, as-is auction purchase, it is important to account for the current occupancy and the restrictions on access and inspection when determining fit and next steps.
The property is located at 223-25 Alix Street in New Orleans, Louisiana 70114.
This offering may suit buyers who are comfortable acquiring an occupied multifamily asset with limited ability to conduct interior due diligence. Because inspections are not allowed and there is no interior access, prospective bidders should plan their review around information available without entering the unit(s). As with any occupied, as-is auction purchase, it is important to account for the current occupancy and the restrictions on access and inspection when determining fit and next steps.
Key Highlights
- Auction sale of an occupied multifamily property sold as‑is
- No interior access allowed and inspections are not permitted
- 1‑story multifamily with 4 bedrooms and 2 full bathrooms
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.1k | $23.28 |
| − Vacancy | −$4.6k | −$2.12 |
| EGI | $45.5k | $21.16 |
| − OpEx | −$20.5k | −$9.52 |
| NOI | $25.0k | $11.64 |
2,150 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$357.5K
$312.8K – $417.1K
NOI $25,023 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.5K
$478.2K – $637.5K
NOI $38,252 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Auction sale of an occupied multifamily asset sold as-is with no interior access or inspections permitted.
Where is this multifamily property located?
The property is located at 223-25 Alix Street New Orleans, LA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Auction sale of an occupied multifamily property sold as‑is; No interior access allowed and inspections are not permitted; 1‑story multifamily with 4 bedrooms and 2 full bathrooms
