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    2623 Washington Ave New Orleans, LA 70113

    Sponsored
    For Sale
    $420,000

    Three-unit building, high income potential.

    Property size:
    2,862 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional three-unit mixed-use property at 2623 Washington Ave, New Orleans, LA 70113, is offered at $420,000. The 2,862 square foot building sits on a 0.08-acre lot and features one ground-floor retail space and two residential units, each boasting two bedrooms and one bathroom. Currently vacant, this presents a significant value-add opportunity with substantial income potential. The property's prime location is just three blocks from the bustling S. Claiborne Avenue corridor, home to numerous national retailers including Raising Cane's, McDonald's, TJ Maxx, and more, ensuring high visibility and foot traffic. Convenient access to I-10 and the Central Business District within 10-15 minutes adds to its appeal. The property also benefits from a large fenced rear yard and ample on-street parking. The permitted zoning is HU-MU, offering flexibility for future development. The property's APN is 412303411. This is a rare opportunity to acquire a well-positioned mixed-use property in a thriving New Orleans neighborhood. The building is a two-story structure, offering a unique blend of retail and residential space. Don't miss this chance to capitalize on the strong rental market and create a lucrative investment portfolio.

    Property Features for 2623 Washington Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    2,862 SF
    Lot Size
    3,485 SF

    Building Details

    Buildings
    1
    Stories
    2
    Units
    3

    HighLights

    • $420,000 asking price for a three‑unit mixed‑use building.
    • Excellent value‑add opportunity with significant income potential.
    • Prime location near the S. Claiborne Ave retail corridor, featuring national brands.
    • Large fenced rear yard and ample on‑street parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Barber's Beauty Gossip Barber Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply 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
    -90.0924008
    Latitude
    29.9398935

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    FAQs

    What type of property is this?
    Mixed-use property - Three-unit building, high income potential.
    Where is this mixed-use property located?
    The property is located at 2623 Washington Ave New Orleans, LA.
    What is the asking price?
    The asking price for this property is $420,000.
    What are key features of this property?
    This property features: $420,000 asking price for a three-unit mixed-use building.; Excellent value-add opportunity with significant income potential.; Prime location near the S. Claiborne Ave retail corridor, featuring national brands.
    Request Owner's contact information
    2623 Washington Ave New Orleans, LA 70113
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    New Orleans, LA 70113
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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
    2623 Washington Ave New Orleans, LA 70113
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