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$ 350,000
Est. payment /mo
Price Dropped by $85K
2638 NEW ORLEANS ST New Orleans, LA 70119
3,223 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2516807
HOA Y/N No
Year Built 1940
Lot Size 3,223 Sqft
Acres 0.074
Property Description
One property, four income streams, endless opportunity. Prime investment opportunity Located in the 7th w/d featuring both income-producing and value-add potential. Liquor License. The ground floor commercial space is currently operating as a bar with rental income of $1,600/month, with market potential up to $2,500/month. This versatile space includes two bathrooms and a full kitchen, easy conversion into a restaurant or other food/beverage concept. Upstairs, you'll find two 2-bedroom, 1-bath units—both in need of renovation—each with a projected rental income of $1,375/month after updates. Additionally, the property includes a separate 1-bedroom studio unit in a stand-alone house, potential rent $1,000/month -need renovations. With multiple income streams and opportunities to increase rental rates, this property is investors looking to maximize returns in a sought-after location.
Location
State LA
County Orleans
Zoning HU-RD2
Interior
Fireplace No
Exterior
Parking Features None
Water Access Desc Public
Building
Lot Description City Lot, Rectangular Lot
Dwelling Type Mixed Use,Other
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Additional Building Living Quarters
Others
Tax ID 37W212912
Special Listing Condition None
Listed by Gulf Meridian Realty
Schools Near
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