Historic French Quarter Multifamily Property w/ Penthouse

For Sale

522 Madison St, New Orleans, LA 70116

This New Orleans property for sale is located at 522 Madison St. The current listed sale price for Historic French Quarter Multifamily Property w/ Penthouse is $2,350,000. Historic French Quarter Multifamily Property w/ Penthouse is situated on a lot that is 0.06 acre in size.

Contacts

broker

Benji Azar

ELIFIN®

(504) 289-7750

Property Details

  • Property Type Multi-Family
  • Property Size 7,260 SF
  • Units 10
  • Lot Size 0.06 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1827
  • Date Updated Apr 9, 2024
Sq 23, Lot 3Built 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.

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Highlights

  • Located in the National Register District of the French Quarter, 522 Madison is eligible for National Registry Status.
  • Excellent opportunity for re-development utilizing State and Federal Historic Tax Credits or condominium conversion.
  • Below market and month-to-month leases provide opportunity for immediate value-add potential
  • Centrally Located allowing immediate access to the entire Vieux Carre

Getting around

  • 98/100

    Walk Score ®

  • 79/100

    Transit Score ®

  • 91/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City New Orleans, LA
  • Neighborhood French Quarter
  • Zip Code 70116
  • Market New Orleans

Points of Interest

  • Dumaine Street

    0.09 miles

  • Toulouse Street

    0.18 miles

  • Ursulines Avenue

    0.21 miles

  • French Market

    0.34 miles

  • North Rampart at Saint Ann

    0.38 miles

  • Bienville Street

    0.39 miles

  • North Rampart at Ursulines

    0.42 miles

  • North Rampart at Conti

    0.49 miles

  • North Rampart at Esplanade

    0.52 miles

  • Canal at Chartres

    0.53 miles

  • Chevron

    0.48 miles

  • Franklin Shell

    1.04 miles

  • Shell

    1.13 miles

  • Shell

    1.19 miles

  • Exxon

    1.22 miles

  • ChargePoint

    1.49 miles

  • Orleans Center

    1.52 miles

  • Delta

    1.53 miles

  • Exxon

    1.60 miles

  • Mardi Gras Truck Stop

    1.72 miles

  • Pay Parking Lot

    0.46 miles

  • E-Z Park

    0.69 miles

  • Premium Parking Lot P296

    0.71 miles

  • Harrah's New Orleans Parking Garage

    0.75 miles

  • Premium Parking Lot

    0.80 miles

  • Premium Parking

    1.14 miles

  • Roman Parking Garage

    1.22 miles

  • Erato St Cruise Terminal

    1.24 miles

  • Lot B

    1.39 miles

  • Lot F

    1.48 miles

  • Place d'Armes Hotel

    0.07 miles

  • Nine-O-Five Royal Hotel

    0.13 miles

  • Chateau Hotel

    0.13 miles

  • Andrew Jackson Hotel

    0.14 miles

  • Bourbon Orleans Hotel

    0.14 miles

  • Hotel Royal

    0.15 miles

  • Hotel Provincial

    0.15 miles

  • Bon Maison Guest House

    0.18 miles

  • Inn on Ursulines

    0.21 miles

  • Hotel Sainte Hélène

    0.22 miles

  • Shops of The Colonnade

    0.08 miles

  • Shops of Upper Pontalba

    0.12 miles

  • Rouses

    0.15 miles

  • The Shops at Jax Brewery

    0.16 miles

  • Crafts Bazaar

    0.17 miles

  • The Marketplace at Jackson Brewery

    0.28 miles

  • Esplanade Mini Mart (24h)

    0.45 miles

  • Shops at Canal Place

    0.51 miles

  • Saks Fifth Avenue

    0.53 miles

  • The Outlet Collection at Riverwalk

    0.80 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Benji Azar

ELIFIN®

(504) 289-7750