1734 2nd Street, New Orleans, LA 70113

Description

100% occupied at $10,380 per month ($124,560 gross annualized); value add opportunity with minor cosmetic renovations and ability to increase rents. 1734–1736 Second Street, New Orleans (Central City), at the corner of Second and Baronne. Nine-unit multifamily. Two adjoining addresses on a single tax parcel. Approximately +/-7,500 SF of building on an approximately +/-6,000 SF corner lot. All nine units are one bedroom, one bath, averaging approximately +/-1,000 SF. Property is 100% occupied at $10,380 per month ($124,560 gross annualized), plus coin-operated laundry income. Fenced yards, off-street parking, and conforming HU-RM1 zoning.Located about two blocks from Oretha Castle Haley Boulevard. Nearby points of interest include the Southern Food and Beverage Museum, the Ashé Cultural Arts Center, Café Reconcile, and Central City BBQ. St. Charles Avenue streetcar, Magazine Street, and the Lower Garden District are nearby. The Central Business District, the Superdome, and the downtown medical corridor are also nearby.Utility costs to ownership are limited; major operating expenses include insurance and taxes. At identical unit sizes, the five units at 1736 currently rent approximately +/-6% higher than the four units at 1734. All information is deemed reliable but not guaranteed; buyer and buyer’s agent to verify.