3300 PRESTON PL New Orleans LA 70131-4200

View Offering Memorandum: https://buildout.​com/sharing/st-james-apartments-81-units-multifamily-investment-3300-preston-pl-new-orleans-sale?file=4251265

Now for sale, St.​ James Apartments offer an 81-unit multifamily community consisting of seven two-story buildings.​

The property features a mix of 1-bedroom/1-bathroom, 2-bedroom/1-bathroom, and 3-bedroom/1.5-bathroom floor plans.​

Residents benefit from three on-site parking lots and a shared laundry facility.​

Located near Élan Academy Charter School, Cut-Off Park and Recreation Center, and the Lower Algiers Ferry, the property offers convenient access to neighborhood amenities.​

Zoned S-RM1 (Suburban Multi-Family Residential District).​

3300 Preston Place offers a prime multi-family investment opportunity in the Algiers submarket of New Orleans, featuring 81 garden-style units across 72,100 SF on a 1.66-acre infill site surrounded by established single-family neighborhoods. Built in the 1970s and renovated in 2022, the property is currently 95% occupied and delivers an attractive mix of one- and two-bedroom units averaging 890 SF with average rents of $1,021 per unit ($1.14/SF). The community includes controlled access, on-site laundry facilities, 108 grade-level parking spaces, central air conditioning, and a standalone leasing office. Additional enhancements include updated gable roofs with warranties, individually metered electricity, and water/sewer services paid by ownership, all contributing to operational stability. With its strategic location, durable renovations, and consistent tenant demand, 3300 Preston Place is positioned as a stable and scalable income-producing asset.