2401 S Johnson St - Apartments FOR SALE


New Orleans, LA 70125- Central City
$399,000 USD
217-202-0924
2401 S Johnson St, New Orleans, LA for Sale
$399,000 USD
Apartments - FOR SALE
1/21
null | 11.34% Cap Rate

2401 S Johnson St
New Orleans, LA 70125
Central City


HIGHLIGHTS

  • Fully stabilized rental asset!
  • Affordable entry point for a multi-family investment!
  • Stable tenant base!
  • Value-add with rents due to be raised in April of 2025!

OVERVIEW

This 5-unit Class C property offers a solid investment in a stable rental market with high tenant retention. Situated on a 0.11-acre lot, the building spans 3,636 square feet and is zoned HU-RD2 (Historic Urban Two-Family Residential District). The units are all fully occupied, including one Section 8 tenant, with four of five tenants in residence for over three years—a testament to tenant stability. Property Highlights: •Unit Breakdown: 1 studio, 2 two-bed/one-bath units, 2 threebed/one-bath units •Combination of both Off-Street and Street Parking: Convenient for tenants •Amenities: Washer/dryer in each unit, HVAC with window units •Utilities: Public water and trash paid by owner, public gas & electric paid by tenants •Upcoming Rent Potential: Four of the five units will be eligible for a rent increase in April 2025 This property sits in Ward 2, offering access to a residential base of 375,000 within a five-mile radius. An ideal option for investors seeking steady income with room for potential rent growth. MR. LANDMAN, LLC is a licensed real estate brokerage firm in the State of Louisiana under LIC#995709872. Jonathan Fisher is a licensed broker in the State of Louisiana under LIC#995709646.

FOR SALE DETAILS

PRICE

$399,000 USD

PRICE/SF

$110 USD /SF

# OF UNITS

5

PRICE/UNIT

$79,800

CAP RATE

11.34%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Johnson Street Multi-Family

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

HU-RD2

APN/PARCEL ID

4-12-4-034-10

ASK ABOUT THIS PROPERTY

Jon FisherMr. LandmanMore Info
217-202-0924

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Jon FisherMr. LandmanMore Info
217-202-0924

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