1936 St Philip StNew Orleans, LA 70116

Property Details for 1936 St Philip St

Year built

1961

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a stabilized, six-unit multifamily portfolio situated in the thriving Treme neighborhood of New Orleans, Louisiana. Comprising three renovated duplexes on a single block, this Class B property boasts a total of 4,640 net rentable square feet on a 7,120 square foot lot. Each of the three buildings, constructed in 1961 and fully renovated in 2023, features one story and is zoned HU-RD2. The portfolio benefits from a 100% occupancy rate as of June 1, 2024, generating a total monthly rental income of $8,140. Its prime location offers convenient access to downtown New Orleans, the French Quarter, I-10, and US-90, and is within close proximity to major medical facilities like the University Medical Center and the VA Hospital. The asking price is $1,079,000. The sale includes an LLC and a completed cost segregation study, providing a significant first-year tax deduction. Owner financing options, including a bond for deed, are available. This is a rare opportunity to acquire a fully renovated, high-performing multifamily portfolio in a rapidly appreciating area.

Location Insight

City

New Orleans

County

Orleans Parish

State

Louisiana

Latitude

29.9682

Longitude

-90.0738

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