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522 Madison St
New Orleans, LA 70116
Historic French Quarter Multifamily Property · Multifamily Property For Sale
·
10 Units
Investment Highlights
- Located in the National Register District of the French Quarter, 522 Madison is eligible for National Registry Status.
- Below market and month-to-month leases provide opportunity for immediate value-add potential
- Excellent opportunity for re-development utilizing State and Federal Historic Tax Credits or condominium conversion.
- Centrally Located allowing immediate access to the entire Vieux Carre
Executive Summary
Built in 1827, This is one of the five buildings with entresol levels constructed for Louis McCarthy and designed by the French Architect, Louis H. Pilie. Adjoined to the rear of the Lower Pontalba, often cited as the oldest apartment buildings in the country, 522 Madison is located at the center of the Historical French Quarter and just a few minutes’ walk to St. Louis Cathedral, Cafe Du Monde and numerous restaurants, bars, and museums.
Located in the National Register District of the French Quarter, 522 Madison is eligible for National Registry Status. 522 Madison is an excellent opportunity for re-development utilizing State and Federal Historic Tax Credits or condominium conversion.
Consisting of 10 1bd/1ba units, elevator, and laundry room, spread across two buildings that are separated by a common area courtyard; three (3) of the leases are currently month to month.
The property also features a penthouse on the top level with exceptional rooftop views of the Mississippi River, the New Orleans skyline, and the vibrant French Quarter. Currently vacant, it is ready to be used as the new owner's personal retreat or as a unique draw for a potential tenant.
Rents are currently below market creating an excellent opportunity for immediate value-add.
Located in the National Register District of the French Quarter, 522 Madison is eligible for National Registry Status. 522 Madison is an excellent opportunity for re-development utilizing State and Federal Historic Tax Credits or condominium conversion.
Consisting of 10 1bd/1ba units, elevator, and laundry room, spread across two buildings that are separated by a common area courtyard; three (3) of the leases are currently month to month.
The property also features a penthouse on the top level with exceptional rooftop views of the Mississippi River, the New Orleans skyline, and the vibrant French Quarter. Currently vacant, it is ready to be used as the new owner's personal retreat or as a unique draw for a potential tenant.
Rents are currently below market creating an excellent opportunity for immediate value-add.
Property Facts
| Sale Type | Investment | Lot Size | 0.06 AC |
| No. Units | 10 | Building Size | 7,260 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1827 |
| Building Class | B | Parking Ratio | 1.37/1,000 SF |
| Zoning | Commercial | ||
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 7,260 SF |
| No. Stories | 3 |
| Year Built | 1827 |
| Parking Ratio | 1.37/1,000 SF |
| Zoning | Commercial |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
Property Taxes
| Parcel Number | 2-07-1-007-07 | Improvements Assessment | $134,007 CAD |
| Land Assessment | $25,345 CAD | Total Assessment | $159,352 CAD |
Property Taxes
Parcel Number
2-07-1-007-07
Land Assessment
$25,345 CAD
Improvements Assessment
$134,007 CAD
Total Assessment
$159,352 CAD
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