Multifamily Property for Sale in New Orleans, LA
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: New Orleans, LA 70113
Description
Second Street Apartments is a 9-unit boutique multifamily property located at 1734–1736 Second Street, New Orleans, Louisiana, in the city’s Central City area. The asset contains approximately 9,000 rentable square feet on roughly 0.20 acres and is presented as an infill multifamily opportunity with fenced yards, off-street parking, and convenient access to neighborhood amenities and employment hubs. The property is being offered at $1,505,000, or approximately $167,222 per unit and $167.22 per SF, with a current NOI of $94,146 and a 6.26% cap rate. The rent roll shows 9 total 1-bedroom units with average monthly rent of $1,153 and average unit size of 1,000 SF. This makes the asset one of the more accessible acquisitions in the portfolio from both a pricing and scale standpoint. Investment Highlights: • Boutique 9-unit multifamily property in the Central City neighborhood of New Orleans with strong infill positioning and neighborhood accessibility • Efficiently sized 9,000 SF asset with all 1-bedroom units, providing straightforward operations and a manageable small-asset footprint • Offered at $1,505,000 with $94,146 current NOI and a 6.26% cap rate, creating an accessible entry point into the New Orleans multifamily market. • Situated on approximately 0.20 acres with fenced yards and off-street parking, enhancing tenant convenience in an urban setting • OM highlights quick-win improvement potential and rent optimization opportunity, supporting a focused value-add strategy
Market Context
This multifamily in New Orleans, LA is listed for sale. It is offered at an approximate 6.3% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in New Orleans, LA — <a href="/search/sale/multifamily/louisiana/new-orleans">view the full market</a>.
Contact
- Chris Shaheen · (225) 376-6750 · chris.shaheen@marcusmillichap.com
- Charlie Smith · (225) 376-6725 · charlie.smith@marcusmillichap.com
- Jessica G. Thompson · (225) 376-6726 · jessica.thompson@marcusmillichap.com
Explore this market
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