1616 Eagle Street, New Orleans, LA 70118
Local realty services provided by:Better Homes and Gardens Real Estate Rhodes Realty
Listed by: chris smith
Office: keller williams realty new orleans
MLS#:2531730
Source:LA_GSREIN
Price summary
- Price:$359,000
- Price per sq. ft.:$186.49
About this home
Step into a rare Uptown investment that checks every box for performance, stability, and long-term upside. This fully leased 4 unit property is a true cash cow, generating a combined monthly income of $5,398 with all four tenants in place and paying on time. NONE of the Units are Subsidized ~ NONE. Each Tenant pays their own rent timely!! Opportunities with this kind of return are scarce, especially in a neighborhood this sought after.<br><br>
The property spans two separate buildings on an oversized 45' by 120' lot with coveted off street parking.<br>
• Front building: (two)one bedroom one bath units, each leased at $1,400 per month<br>
• Rear building: (two) one bedroom one bath units, each leased at $1,299 per month<br><br>
Tenants enjoy simple living with water & electricity included, making these units extremely easy to lease and maintain. Investors enjoy strong, predictable income and a high cap rate that outperforms most multi-family opportunities in this price category.<br><br> The TOTAL average utility costs that the landlord/Owner covers is $900 TOTAL (for the electricity and water, sewerage & trash).
Only 4 blocks to Oak Street, this location is exceptional! You are moments from award-winning restaurants, neighborhood coffee shops, fitness studios, art galleries, live music venues, and one of Uptown’s most beloved commercial corridors. Demand for this area is always strong, which helps keep vacancies low and rents competitive.<br><br>
Additional benefits include the preferred Flood Zone X, a property that has never flooded, and an overall setup that makes this an easy addition to any portfolio.<br><br>
This is a rock solid investment with excellent cash flow from day one. Do not miss this one!
Contact an agent
Home facts
- Year built:1948
- Listing ID #:2531730
- Added:3 day(s) ago
- Updated:November 23, 2025 at 04:44 PM
Rooms and interior
- Bedrooms:4
- Total bathrooms:4
- Full bathrooms:4
- Living area:1,925 sq. ft.
Heating and cooling
- Cooling:Wall Unit(s)
- Heating:Ductless, Heating, Wall Furnace
Structure and exterior
- Roof:Shingle
- Year built:1948
- Building area:1,925 sq. ft.
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$359,000
- Price per sq. ft.:$186.49
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