River Ridge Office 9531 Jefferson Highway River Ridge, LA 70123 504.737.8454

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River Ridge Office 9531 Jefferson Highway River Ridge, LA 70123 504.737.8454
$449,000 New For Sale

116 S Norman C Francis Parkway
New Orleans, LA 70119

Multi Family Home - MLS# 2549904
Property Photo
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Description

Exceptional mixed-use opportunity in the heart of New Orleans! This expansive 4300 sq. ft. property features two fully renovated units (2017), offering the perfect combination of modern living and strong income potential. The owner's unit showcases a beautifully updated 4-bedroom, 2.5-bath layout with high end finishes and thoughtful design throughout. The second unit spans approximately 1600 sq. ft. and offers 3 bedrooms and 2 bathrooms, providing consistent income-producing capability.Historically generating $4200/month ($50,400 annually), this property delivers an estimated ~7.9% cap rate at the current list price, making it an exceptional opportunity for both investors and owner-occupants. Zoned for both residential and commercial use, the flexibilty allows for a wide range of possibilities, including live/work, long term rental, or business use. Rare chance to own a high performing, fully renovated asset in one of New Orleans' most desirable areas.

Features

  • Property Type: Multi Family Home
  • Sub Type: Duplex
  • Listing Status: Active
  • County/Area: Orleans Parish
  • Zip Code: 70119
  • Year Built: 1970
  • Sq.Ft.: 4,390 sq ft
  • Style: Traditional
  • Stories: 2 Story
  • Bedrooms: 7
  • Full Baths: 4
  • Half Baths: 1
  • Baths: 5
  • Additional Sub Type: Duplex
  • Building Area Source: Assessor
  • Construction Materials: Brick
  • Cooling: Central Air
  • Cooling YN: Yes
  • Exterior Features: Fence
  • Foundation Details: Slab
  • Heating: Central
  • Heating YN: Yes
  • Laundry Features: Laundry Room
  • Living Area Source: Assessor
  • Lot Dimensions: 2315
  • Lot Features: City Lot, Rectangular Lot
  • Main Type: Residential Income
  • Number Of Units Total: 2
  • Parking Features: None, Off Street
  • Postal City: New Orleans
  • Property Condition: Excellent
  • Roof: Shingle
  • Sewer: Public Sewer
  • Tenant Pays: Electricity, Gas, Water
  • Total Stories: 2
  • Water Source: Public
Listing Courtesy of Realty One Group Immobilia
Source: Gulf South Real Estate Information Network, Inc.
Rob Norton
Riverside Realty, Inc.

9531 Jefferson Hwy
River Ridge, LA 70123
Phone: 504-453-5165
Email: rob@rnortonrealtor.com

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