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    FOR SALE
    Apartment buildings

    2108 Broadway St, New Orleans, LA 70118

    6,659 SF 0.16 ac lot Built 1950
    Entity Owned 9-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US36-0430654
    Property summary
    AI-generated overview

    This exceptional Class A, 9-unit apartment building presents a compelling value-add investment opportunity in New Orleans' desirable University neighborhood. Located at 2108 Broadway Street, this three-story building boasts 6,659 square feet of net rentable space on a 6,840 square foot lot, zoned HU-RD1. The property's prime location offers convenient proximity to Tulane and Loyola Universities, St. Charles Avenue, and a vibrant array of retail and dining establishments. Currently generating a robust income stream, the building features updated kitchens and bathrooms, modern HVAC systems, and select units with hardwood floors, high ceilings, and private balconies, catering to a diverse tenant base of students and young professionals. Off-street parking is available. The building's classic architectural style is meticulously maintained, blending historic charm with contemporary upgrades. This property's strong tenant demand and potential for rent growth make it an ideal investment for those seeking steady returns in a high-demand market. The asking price is $1,500,000. This is a rare opportunity to acquire a well-positioned multifamily asset with significant upside potential.

    Property profile
    Verified
    Property type Apartment buildings
    Use group APARTMENT HOUSE (5+ UNITS)
    Year built 1950
    Construction CONCRETE
    Total area 6,659 SF
    Lot 0.16 ac (6,840 SF)
    APN 615312108
    UPID US36-0430654
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • 2108 Broadway, managed by Upper Management, LLC Apartment Building
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $478k
    Blend (final) Blend
    $765k
    Owner & transaction history
    2108 Nola LLC · 9 yrs held
    2108 Nola LLC
    since 2016
    1 recorded transaction
    2016
    $1.4M
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $1.3M +53.2%
    Retail stores $985,000 +20.0%
    Office building $885,000 +7.8%
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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