$ 2,350,000
522 MADISON ST New Orleans, LA 70116
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$ 2,350,000
Est. payment | /mo
7,260 SqFt
$ 2,350,000
Est. payment | /mo
7,260 SqFt
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,260 sqft
Price per Sqft $323
Subdivision Vieux Carre
MLS Listing ID 2023018012
Construction Status Other See Remarks
Lot Size 2,613 Sqft
Lot Dimensions 40x65
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
Parish Orleans
Area No Area
Building
Construction Status Other See Remarks
Schools
School District Orleans Parish
Listed by Elifin Realty
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Maddie Landry
Agent | License ID: 995706655