1917 Leonidas StNew Orleans, LA 70118

Property Details for 1917 Leonidas St

Year built

1970

Lot size

0.10 AC

Property size (Sq ft)

2,714 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

716302512

APU

716302512

Description

This exceptional investment opportunity presents a six-unit apartment building located at 1917 Leonidas St, New Orleans, LA 70118. The property boasts 2,714 square feet across two stories, offering a compelling price per square foot of $189.76 and a price per unit of $85,833.33. Currently stabilized and generating positive cash flow, this multifamily property presents a value-add opportunity for potential equity growth. The building features convenient off-street parking and enhanced security with gated and fenced unit entry. This property is part of a larger portfolio of three two-story buildings, all within a 15-minute radius of each other, providing potential for economies of scale and portfolio diversification. Detailed financial information, including rent rolls, income statements, and expense reports, is available upon request. The property's location in New Orleans, Orleans Parish, offers access to a vibrant rental market. The assessed property number (APN) is 716302512. This is an ideal opportunity for investors seeking a stable, cash-flowing asset with significant upside potential through renovations and tenant improvements. Serious inquiries are encouraged to explore this promising investment further.

• CAP approach

  CAP return

  Valuation

  6%

  $533,684

  6.5%

  $492,631

  7%

  $457,443

• Comparable approach

  Method

  Valuation

  Relative Method

  $320,891

  Geo Method

  $299,054

• Alternative Use

  Use

  Valuation

  Residential

  $492,631

  Hospitality

  $451,248

  Educational

  $375,433

  Medical

  $388,344

  Retail

  $584,006

Location Insight

City

New Orleans

County

Orleans

State

Louisiana

Latitude

29.956

Longitude

-90.1281

CBSA code

35380

CBSA name

NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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