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    3221 Louisiana Avenue Pkwy New Orleans, LA 70125

    Sponsored
    For Sale
    $330,000

    Uptown 3-unit value-add opportunity.

    Property size:
    3,153 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This bank-owned, three-unit multifamily property located at 3221 Louisiana Ave Pkwy, New Orleans, LA 70125 presents a compelling value-add investment opportunity. The property, a three-story building totaling 3,153 square feet, comprises three units: two three-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit. Currently, two of the three units are occupied, achieving a 66% occupancy rate. The three-bedroom units each command a monthly rent of $1,150, while the two-bedroom unit is currently vacant. The property underwent renovations in 2012 and is classified as Class C. The asking price is $330,000, translating to $110,000 per unit and $104.66 per square foot. Situated in Orleans Parish, this property is located in an AE Flood Zone. This presents a strong potential for increased rental income through lease-up of the vacant unit and potential future improvements, making it an attractive investment in the desirable Uptown New Orleans area. The property is bank-owned and offers significant upside potential for the savvy investor.

    Property Features for 3221 Louisiana Avenue Pkwy

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,153 SF
    Class
    C

    Building Details

    Year Renovated
    2012
    Buildings
    1
    Stories
    3
    Units
    3

    HighLights

    • Asking price: $330,000 for this three‑unit multifamily property.
    • Property type: Value‑add, Class C, three‑story triplex with 3,153 square feet.
    • Location: 3221 Louisiana Ave Pkwy, New Orleans, LA 70125.
    • Financials: $110,000 per unit; $104.66 per square foot; 66% occupancy.
    • Unit details: Two 3‑bed/1‑bath units (each leased at $1,150/month), one vacant 2‑bed/1‑bath unit.
    • Building condition: Good condition, renovated in 2012; located in an AE Flood Zone.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    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
    -90.098524659683
    Latitude
    29.943575623295

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    FAQs

    What type of property is this?
    Multifamily property - Uptown 3-unit value-add opportunity.
    Where is this multifamily property located?
    The property is located at 3221 Louisiana Avenue Pkwy New Orleans, LA.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: Asking price: $330,000 for this three-unit multifamily property.; Property type: Value-add, Class C, three-story triplex with 3,153 square feet.; Location: 3221 Louisiana Ave Pkwy, New Orleans, LA 70125.
    (225) 237-3362
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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
    3221 Louisiana Avenue Pkwy New Orleans, LA 70125
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