2833 Napoleon Av, New Orleans
$1,199,500
2833 Napoleon Ave offers a centrally located, commercial-zoned, multi-family property with strong existing income in place from 11 tenants. The property is fully occupied and includes a mixture of private 1-bedroom, 2-bedroom, and efficiency units along with communal living spaces. The right side was renovated post-Ida, featuring updated layouts in private units, while the left side houses communal areas and individual bedroom rentals. The property features high ceilings throughout, large rooms, original hardwood floors, historic detailing, sunrooms/porches, a vast unfinished basement currently housing laundry and storage, a large rear parking lot for 6-8 cars, and a 4th floor that is partially framed out for additional bedrooms or additional units. Additionally, the roof was fully replaced after Ida.
The property has updated electrical/plumbing but needs exterior renovation due to deferred maintenance. The opportunity exists for a purchaser to upgrade the left units as the owner has done or reposition into office, retail, restaurant, etc. while utilizing the substantial and consistent in-place income to offset costs.
City Lot, Oversized Lot, Rectangular Lot
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