659 W Main St, New Roads, LA

About 659 W Main St

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.

Listing Map