Listed by Marcus & Millichap - Baton Rouge
$3,025,000
Magazine Street Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,440
Units 16
Cap Rate 5.50%
NOI $166,322
Year Built 1859
Year Renovated 2022
Stories 2
Acreage 0.210
Multifamily | 5.50% CAP | 16 Units
Marketing description
Magazine Street Apartments is a premier historic multifamily property located in the coveted Garden District of New Orleans, LA. Originally built in 1830, this landmark property underwent a comprehensive renovation in 2022, meticulously preserving its historic character while introducing modern amenities and finishes. The building is constructed of historic brick and rises two stories, offering 16 fully renovated 1bedroom units. Situated on a O.21-acre lot along the vibrant Magazine Street corridor, the property provides residents with unparalleled access to boutique shopping, renowned dining, and cultural attractions. Its prime location is within walking distance of the St. Charles Streetcar line, connecting residents to the broader city. The renovation ensures no deferred maintenance, presenting a turnkey investment in one of New Orleans' most desirable neighborhoods.
Investment highlights
- Historic Garden District Location
- Fully Renovated 2022
- Walking Distance to SI. Charles Streetcar
- Near Magazine Street Shopping & Dining
- AlI1-Bedroom Units
Listing Contacts
Listed by Marcus & Millichap - Baton Rouge
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$166,322.00
$13,860.17/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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