1431 Baronne St New Orleans, LA 70113-1207
- Investment properties
- 8,256 SF
- 0.09 lot acres
Current Use by Public Records
- Investment properties
Property Details for 1431 Baronne St
- Year built
- 1900
- Lot size
- 0.09 lot acres
- Property size
- 8,256 SF
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 101108016
- APU
- 101108016
Description
This exceptional mixed-use portfolio comprises three buildings totaling 20,488 square feet on three parcels in the desirable Baronne Street corridor of New Orleans, Louisiana. The property features 18 residential units (94% occupancy) and two commercial units, offering a strong current NOI of $239,945 and a pro-forma NOI of $298,745, translating to a 6.15% cap rate and a pro-forma cap rate of 7.66%. Built in 1900, this Class B property sits on a 13,734 square foot lot and is zoned MU-2, allowing for diverse uses. The portfolio includes a mix of unit types, including month-to-month leases, providing immediate value-add potential through renovations and rent increases. The buildings consist of two stories across three structures, offering a blend of residential and commercial spaces. One commercial unit is currently vacant, presenting an opportunity for further income generation. The strategic location at the intersection of Baronne Street and MLK Blvd provides high visibility and accessibility. This fee-simple ownership opportunity presents a compelling investment with significant upside potential. Detailed financial information and additional photos are available upon request. The asking price is $3,900,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Orleans
- State
- Louisiana
- Longitude
- -90.0781
- Latitude
- 29.9407
- CBSA code
- 35380
- CBSA name
- NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA
