Listed by Elifin Realty - New Orleans, LA
$2,200,000
522 Madison St
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,260
Units 10
Year Built 1827
Buildings 5
Acreage 0.060
Zoning VCC-1 – Vieux Carré Commercial District
Multifamily | 10 Units
Marketing description
Built in 1827, This is one of the five buildings with entresol levels constructed for Louis McCarthy and designed by the French Architect, Louis H. Pilie. Adjoined to the rear of the Lower Pontalba, often cited as the oldest apartment buildings in the country, 522 Madison is located at the center of the Historical French Quarter and just a few minutes’ walk to St. Louis Cathedral, Cafe Du Monde and numerous restaurants, bars, and museums.
Located in the National Register District of the French Quarter, 522 Madison is eligible for National Registry Status. 522 Madison is an excellent opportunity for re-development utilizing State and Federal Historic Tax Credits or condominium conversion.
Consisting of 10 1bd/1ba units, elevator, and laundry room, spread across two buildings that are separated by a common area courtyard; three (3) of the leases are currently month to month.
The property also features a penthouse on the top level with exceptional rooftop views of the Mississippi River, the New Orleans skyline, and the vibrant French Quarter. Currently vacant, it is ready to be used as the new owner's personal retreat or as a unique draw for a potential tenant.
Rents are currently below market creating an excellent opportunity for immediate value-add.
Sq 23, Lot 3
Investment highlights
- Located in the National Register District of the French Quarter, 522 Madison is eligible for National Registry Status.
- Excellent opportunity for re-development utilizing State and Federal Historic Tax Credits or condominium conversion.
- Below market and month-to-month leases provide opportunity for immediate value-add potential
- Centrally Located allowing immediate access to the entire Vieux Carre
Listing Contacts
Listed by Elifin Realty - New Orleans, LA
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
