81 Unit Multi-Family For Sale

3300 Preston Place offers a prime multi-family investment opportunity in the Algiers submarket of New Orleans, featuring 81 garden-style units across 72,100 SF on a 1.66-acre infill site surrounded by established single-family neighborhoods. Built in the 1970s and renovated in 2022, the property is currently 95% occupied and delivers an attractive mix of one- and two-bedroom units averaging 890 SF with average rents of $1,021 per unit ($1.14/SF). The community includes controlled access, on-site laundry facilities, 108 grade-level parking spaces, central air conditioning, and a standalone leasing office. Additional enhancements include updated gable roofs with warranties, individually metered electricity, and water/sewer services paid by ownership, all contributing to operational stability. With its strategic location, durable renovations, and consistent tenant demand, 3300 Preston Place is positioned as a stable and scalable income-producing asset.