659 W Main St Active Save Request In-Person Tour Request Virtual Tour
New Roads,LA 70760
Key Details
Property Type Multi-Family
Sub Type Apt Complex (5+ Units)
Listing Status Active
Purchase Type For Sale
Square Footage 12,922 sqft
Price per Sqft $44
Subdivision City Of New Roads
MLS Listing ID 2023020229
Lot Size 0.420 Acres
Property Sub-Type Apt Complex (5+ Units)
Property Description
Located in the heart of historic downtown New Roads, feet away from False River, this 12-plex offers an unbeatable investment opportunity in one of the city's most sought locations. With a strong Airbnb market, furnish/convert a unit and your guests can enjoy nearby boating, swimming, and fishing on a beautiful lake. Surrounded by unique homestyle restaurants, shopping, and waterfront homes, this rare property features four studio units, three 1 bed / 1 bath units, one 2 bed/1 bath unit, one 3 bed/2 bath unit, 2 office areas which could be converted into another efficiency and another 1 bed and a 5000 square foot empty Movie Theatre (value-add build out space for up to 9 additional units). Rent-roll shows units rented grossing $6000/month plus coinless laundry - well below market average and presenting strong upside potential. Whether you're looking for a cash flowing asset or a value-add opportunity with long-term appreciation potential, this property delivers both. With consistent rental income and room to elevate rents or enhance finishes, this is a rare chance to own a multifamily property in one of New Roads most desirable areas.
Location
State LA
County Pointe Coupee
Interior
Heating None
Cooling Window Unit(s)
Exterior
Garage Spaces 10.0
Building
Foundation Slab
Sewer Public Sewer
Schools
Elementary Schools Pointe Coupee Parish
Middle Schools Pointe Coupee Parish
High Schools Pointe Coupee Parish
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition As Is