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$ 2,350,000
Est. payment | /mo
4 Beds
2 Baths
2,600 Acres Lot
$ 2,350,000
Est. payment | /mo
4 Beds
2 Baths
2,600 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Vieux Carre
MLS Listing ID BR2023018012
Bedrooms 4
Full Baths 2
Lot Size 2600.000 Acres
Acres 0.0597
Property Sub-Type Multi Family
Property Description
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. ***To access the FINANCIALS (rent roll, income, expense, etc.), please click "Offering Memorandum" below. From there, you'll be redirected to our website, able to login, sign the Confidentiality Agreement electronically, and access all of the available information. If you don't already have an account, you can create one for free.***
Location
State LA
Interior
Heating Other, Heat Unit(s)
Cooling Other, Window Unit(s), AC Unit(s)
Appliance Refrigerator
Building
Foundation Slab
Sewer Other Water/Sewer, Public Sewer
Water Public
Others
Tax ID 207100707
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Elifin Realty