659 W Main St New Roads, LA 70760
Estimated payment $3,166/month
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,560
Parking
- 10 Parking Spaces
Home Design
- 12,922 Sq Ft Home
- Brick Exterior Construction
- Slab Foundation
Additional Features
- Electric Cooktop
- 0.42 Acre Lot
Community Details
- City Of New Roads Subdivision
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,560 | $22,500 | $15,000 | $7,500 |
| 2023 | $1,153 | $17,550 | $5,550 | $12,000 |
| 2022 | $1,136 | $17,550 | $5,550 | $12,000 |
| 2021 | $1,136 | $17,550 | $5,550 | $12,000 |
| 2020 | $1,137 | $17,550 | $5,550 | $12,000 |
| 2019 | $970 | $17,550 | $5,550 | $12,000 |
| 2018 | $966 | $17,550 | $5,550 | $12,000 |
| 2017 | $966 | $17,550 | $5,550 | $12,000 |
| 2015 | $970 | $17,550 | $5,550 | $12,000 |
| 2013 | $1,307 | $22,950 | $5,550 | $17,400 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/19/2025 08/19/25 | Price Changed | $575,000 | 0.0% | $44 / Sq Ft |
| 07/08/2025 07/08/25 | Rented | $850 | 0.0% | -- |
| 05/22/2025 05/22/25 | For Rent | $850 | +13.3% | -- |
| 09/18/2023 09/18/23 | Rented | $750 | 0.0% | -- |
| 08/25/2023 08/25/23 | For Sale | $600,000 | 0.0% | $46 / Sq Ft |
| 08/25/2023 08/25/23 | For Rent | $750 | 0.0% | -- |
| 05/26/2023 05/26/23 | Rented | $750 | 0.0% | -- |
| 04/28/2023 04/28/23 | Price Changed | $750 | -11.8% | $1 / Sq Ft |
| 03/23/2023 03/23/23 | For Rent | $850 | 0.0% | -- |
| 03/23/2023 03/23/23 | Off Market | $850 | -- | -- |
| 11/10/2022 11/10/22 | Price Changed | $850 | -5.6% | $1 / Sq Ft |
| 10/13/2022 10/13/22 | Price Changed | $900 | -5.3% | $1 / Sq Ft |
| 09/12/2022 09/12/22 | Price Changed | $950 | -13.6% | $1 / Sq Ft |
| 09/02/2022 09/02/22 | For Rent | $1,100 | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $330,538 | No Value Available | |
| Closed | $400,000 | Unknown |
Source: Greater Baton Rouge Association of REALTORS®
MLS Number: 2023020229
APN: 00723200
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