2601-2603 3rd St - Apartments FOR SALE


New Orleans, LA 70113- Central City
$699,000 USD
504-274-2667
2601-2603 3rd St, New Orleans, LA for Sale
$699,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

2601-2603 3rd St
New Orleans, LA 70113
Central City


HIGHLIGHTS

  • Seven-unit multi-family building with approximately 4,000 SF of recently renovated interiors.
  • Located in Flood Zone X (X500), offering reduced flood risk compared to other areas of New Orleans.
  • Immediate income potential with upside through professional management and rental growth.

OVERVIEW

This seven-unit multi-family property at 2601-03 Third Street presents an exceptional investment opportunity in the heart of New Orleans. Positioned on a 2,790-square-foot corner lot with frontage along both Third Street and South Robertson Street, the building offers approximately 4,000 square feet of recently renovated living space. Its location provides convenient access to Downtown New Orleans, major employment centers, and a wide range of retail and dining options. Configured as seven individual apartment units, the property delivers immediate income potential with the added benefit of long-term appreciation. Recent renovations enhance the building’s appeal and reduce near-term capital expenditure requirements, while the HU-MU zoning supports continued multi-family use. Located in Flood Zone X (X500), the property benefits from reduced flood risk compared to much of the city, further strengthening its investment profile. This offering is well-suited for investors seeking stabilized multi-family income in an established neighborhood with strong rental demand and proximity to the city’s cultural and economic core.

FOR SALE DETAILS

PRICE

$699,000 USD

PRICE/SF

$175 USD /SF

# OF UNITS

7

PRICE/UNIT

$99,857

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

HU-MU

APN/PARCEL ID

4-12-3-036-08

ASK ABOUT THIS PROPERTY

Pat Browne IIIThe McEnery CompanyMore Info
504-274-2667

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

Pat Browne IIIThe McEnery CompanyMore Info
504-274-2667

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