834 Josephine St 3 Unit Apartment Building $499,900 ($166,633/Unit) New Orleans, LA 70130

834-36 Josephine Street presents a compelling investment opportunity in the heart of New Orleans' Lower Garden District. This charming cottage-style double features two legal addresses operating as three distinct income-producing units, each configured for mid-term rentals (30+ day stays) on Airbnb — legally exempt from the city's short-term rental permit requirements.
Built in 1923, the property blends historic New Orleans character with modern updates including a brand-new roof (May 2025), leased solar panels that virtually eliminate electric costs, and a recently replaced water heater. The home offers 2,072 SF of living space across 5 bedrooms and 3 full bathrooms with original hardwood floors, high ceilings, and ductless mini-split climate control throughout.
With proven annual income exceeding $60,000 (2023-2024) and fixed overhead under $20,000, the property delivers strong cash-on-cash returns. The property features a private backyard with wooden deck, and is steps from Magazine Street's acclaimed dining, shopping, and the St. Charles Streetcar line.
Recent Capital Improvements:
- Complete roof replacement (May 2025)
- Solar panel installation (eliminates electric costs)
- Water heater replacement (2023)
- Ductless mini-split HVAC throughout
No STR permit required. Healthy Homes Certificate active and in place. Sold as-is. Artwork and wall art not included.