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    522 Madison St New Orleans, LA 70116

    Sponsored
    For Sale
    $2,350,000

    Historic 10-unit apartment building, prime location.

    Property size:
    7,260 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a meticulously preserved 10-unit apartment building at 522 Madison Street in New Orleans' historic French Quarter. Built in 1827, this property, designed by renowned French architect Louis H. Pilie, boasts 7,260 square feet across two buildings separated by a courtyard. The property includes a desirable penthouse with stunning rooftop views of the Mississippi River, the New Orleans skyline, and the vibrant French Quarter. Currently featuring a mix of ten 1-bedroom, 1-bathroom units, including three month-to-month leases, this property offers immediate value-add potential due to below-market rents. The building also features an elevator and laundry room. Situated on a 0.06-acre lot within the Vieux Carré Commercial District (VCC-1 zoning), this property is eligible for National Registry Status and presents an excellent opportunity for redevelopment utilizing State and Federal Historic Tax Credits or condominium conversion. Its central location provides easy access to St. Louis Cathedral, Cafe Du Monde, and numerous restaurants, bars, and museums. The currently vacant penthouse offers the potential for owner occupancy or a unique rental opportunity. This is a rare chance to acquire a piece of New Orleans history with significant upside potential.

    Property Features for 522 Madison St

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,260 SF
    Lot Size
    2,614 SF

    Building Details

    Year Built
    1827
    Buildings
    5
    Units
    10

    HighLights

    • Historic French Quarter multifamily investment opportunity, eligible for National Registry Status.
    • Excellent redevelopment potential utilizing State & Federal Historic Tax Credits or condo conversion.
    • Below‑market rents and month‑to‑month leases offer immediate value‑add potential.
    • Prime Vieux Carré location, providing easy access to major attractions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.062356
    Latitude
    29.958262

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    FAQs

    What type of property is this?
    Multifamily property - Historic 10-unit apartment building, prime location.
    Where is this multifamily property located?
    The property is located at 522 Madison St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $2,350,000.
    What are key features of this property?
    This property features: Historic French Quarter multifamily investment opportunity, eligible for National Registry Status.; Excellent redevelopment potential utilizing State & Federal Historic Tax Credits or condo conversion.; Below-market rents and month-to-month leases offer immediate value-add potential.
    Request Owner's contact information
    522 Madison St New Orleans, LA 70116
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    522 Madison St New Orleans, LA 70116
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