2308 Audubon St - Apartments FOR SALE


New Orleans, LA 70125- Marleyville-Fontainbleau
$595,000 USD
504-605-4400
2308 Audubon St, New Orleans, LA for Sale
$595,000 USD
Apartments - FOR SALE
1/1
null | 8.3% Cap Rate

2308 Audubon St
New Orleans, LA 70125
Marleyville-Fontainbleau


HIGHLIGHTS

  • Brand new AC units for both sides (2024)
  • New Plumbing underneath house (2026)
  • Rear parking lot for 4+ vehicles + off-street parking

OVERVIEW

FULLY RENTED. Prime Uptown university-area investment opportunity just minutes from Tulane and Loyola Universities. This spacious duplex offers a total of 8 bedrooms and an attractive 8.30% current CAP rate with gross annual rental income of $64,008. Both units are currently leased, with no vacancy during the sellers’ three years of ownership. Tenants have typically included graduate students and young professionals. Both HVAC systems were replaced in 2024, and major plumbing improvements were completed in 2026. The property features hardwood floors, charming built-ins, comfortable living spaces, and off-street parking with a freshly poured driveway and rear parking area for several vehicles. The lower unit includes a welcoming front sunroom. Tenants are responsible for electricity, water, and gas, providing an efficient ownership structure with all utilities paid by tenants. Refrigerators, washers, and dryers will remain with the property. Additional upside may exist through increased rental income by utilizing the fourth bedroom in the upstairs unit as an additional rentable bedroom, subject to applicable requirements and approvals. Ideally located in the popular Uptown University area with convenient access to Tulane, Loyola, Carrollton, Uptown amenities, downtown, Mid-City, and major commuter routes. An excellent opportunity for investors seeking strong current cash flow with additional rental upside in a highly desirable New Orleans location.

FOR SALE DETAILS

PRICE

$595,000 USD

PRICE/SF

$193 USD /SF

# OF UNITS

2

PRICE/UNIT

$297,500

CAP RATE

8.3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,340 SF

ZONING

-

APN/PARCEL ID

6-15-3-126-15

ASK ABOUT THIS PROPERTY

Jonathan MakiThe McEnery CompanyMore Info
504-605-4400

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Jonathan MakiThe McEnery CompanyMore Info
504-605-4400

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.