2714 N Galvez Street New Orleans, LA 70117

Building Details

Year Built

2023

Listing Agency Fleur De Lee Realty, LLC Show Phone

Listed by Justin Lee Show Phone

Source Nolalivingrealty

Added: Jan 19 Updated: Jul 20 at 2:05 am Checked: Jul 20 at 2:05 am

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Investment Insights

Based on property information with market context.

This newly renovated six-unit multifamily property was fully renovated in 2023 from the studs up. The building offers two upstairs 3-bedroom, 1-bath units, each featuring updated kitchens, hardwood floors, and open floor plans, along with four downstairs units. Downstairs consists of two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. Downstairs units also have separate water and electricity meters and central air, with ample storage space throughout the building. The property is described as professionally managed.

Currently, the property is generating $5,800 per month. The seller also provides projected Section 8 rental figures based on unit sizes: $1,149 per month for each 1-bedroom unit (2 units), $1,362 per month for each 2-bedroom unit (2 units), and $1,750 per month for each 3-bedroom unit (2 units), for total potential Section 8 income of $8,522 per month.

The offering is presented as a 1031 exchange or cash purchase opportunity, located at 2714 N Galvez Street in New Orleans, Louisiana.

Key Highlights

• 6‑unit building built in 2023 and fully renovated in 2023 from the studs up
• Section 8 rent potential totals $8,522/month ($102,264/year) based on 2 of each 1BR, 2BR, and 3BR
• Downstairs units include 2 x 2BR and 2 x 1BR, each with separate water & electricity meters and central air

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FAQs

What type of property is this?

Apartment building - Six-unit building renovated from the studs up in 2023, with separate utility metering and central air for downstairs units.

Where is this apartment building located?

The property is located at 2714 N Galvez Street New Orleans, LA.

What is the asking price?

The asking price for this property is $624,999.

What are key features of this property?

This property features: 6‑unit building built in 2023 and fully renovated in 2023 from the studs up; Section 8 rent potential totals $8,522/month ($102,264/year) based on 2 of each 1BR, 2BR, and 3BR; Downstairs units include 2 x 2BR and 2 x 1BR, each with separate water & electricity meters and central air