1714 Marais St New Orleans, LA 70116
- Apartment buildings
- 4,500 SF
Current Use by Public Records
- Apartment buildings
Property Details for 1714 Marais St
- Year built
- 2020
- Property size
- 4,500 SF
- Property type
- Apartment buildings
Description
This exceptional 5-unit apartment building, constructed in 2020, presents a compelling investment opportunity in New Orleans' desirable 70116 zip code. Located minutes from the French Quarter, Treme, and Bywater, this three-story building boasts 4,500 square feet on a 3,200 square foot lot. The property features five 2-bedroom, 1-bathroom units, each approximately 900 square feet, currently achieving 100% occupancy. The current Net Operating Income (NOI) stands at $58,961, with a pro-forma NOI of $62,576, yielding a 7.38% cap rate and a pro-forma cap rate of 7.83%. The asking price is $799,000, translating to $159,800 per unit and $177.56 per square foot. Seller financing is available with a 10% down payment. Built with high-quality, energy-efficient materials, this property offers low maintenance and reduced utility costs. Low insurance costs further enhance its financial appeal. The property's prime location and strong current performance position it for significant long-term appreciation. This is a rare opportunity to acquire a stabilized, Class A multifamily asset with substantial upside potential. Contact us today to schedule a viewing.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans Parish
- State
- Louisiana
- Longitude
- -90.0625
- Latitude
- 29.9692
