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    1131-1137 Bourbon St New Orleans, LA 70116

    Sponsored
    For Sale
    $1,178,000

    Historic New Orleans 12-unit apartment complex

    Property size:
    4,745 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional redevelopment opportunity presents two historic buildings on Bourbon Street in New Orleans, Louisiana. The property, encompassing 4,745 square feet on a 0.08-acre lot (APN 208101607), consists of a stunning Greek Revival townhouse and a charming Victorian cottage, both boasting unique architectural details. High ceilings and wood floors are featured in the townhouse, while the cottage offers a picturesque front porch. Two courtyards provide serene outdoor spaces. Currently zoned VCR1 (Vieux Carré Residential District), allowing for multifamily use, this 12-unit apartment building offers significant potential. The property is currently vacant. Built in 1855, the two-story complex is listed at $1,178,000, or $98,167 per unit, and $248.26 per square foot. All measurements are approximate and should be verified by the purchaser. Zoning, overlays, and intended use must also be independently verified.

    Property Features for 1131-1137 Bourbon St

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,745 SF
    Lot Size
    3,485 SF

    Building Details

    Year Built
    1855
    Buildings
    2
    Stories
    2
    Units
    12
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store 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
    -90.0624242
    Latitude
    29.962532

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    FAQs

    What type of property is this?
    Multifamily property - Historic New Orleans 12-unit apartment complex
    Where is this multifamily property located?
    The property is located at 1131-1137 Bourbon St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $1,178,000.
    Request Owner's contact information
    1131-1137 Bourbon 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
    1131-1137 Bourbon St New Orleans, LA 70116
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