Multifamily
Second Street Apartments
1734 Second St, New Orleans, LA 70113
Listing Price: $1,505,000
Investment Overview
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.
Second Street Apartments
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
Listing Price: $1,505,000
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
Investment Overview
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.
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