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Investment Property! Hip Lower Garden location + $3445/mo income
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Property Description |
MAGAZINE HAS REOPENED AND THINGS ARE HAPPENING IN THE AREA!!!!
This is a beautifully renovated triplex in the hip and up and coming Lower Garden District. Renovated by the architect/owner in 2003, each unit features independent bedrooms, hardwood floors, high ceilings, decorative mantles, original moldings, stainless steel appliances and much more! Each unit also has private outdoor space. While the building is fully rented, with income of $3445/month, this would be perfect for an owner occupant -- or invest and watch your equity build! This building appraised for $440,000 in August 2006
Magazine Street is one block away (and newly re-opened!!). This area was HIGH and DRY after Katrina - no flooding at ALL! Within 2 blocks of the convention center expansion, the re-opened luxury Saulet Apartments, and the planned $50 million Tulane RiverSphere educational center and theme park!!
Across the street from this property is an 1860's Greek Revival Mansion that is under renovation. There are also three buildings on the block that suffered wind damage after the storm and are scheduled to be demolished -- and since this is a local historic district, all new construction will be require approval from the Historic District Landmarks Commission -- insuring that it will be compatable with the historic fabric of this neighborhood!
Unit 1 -- 3beds/1 bath currently rented month-to-month for $1450
Unit 2 -- 2beds/1 bath currently rented til Jan. 08 for $1100
Unit 3 -- 2beds/1 bath currently rented til Oct. 08 for $895
2,948 sq. ft. of total living area + porches/deck
The tenants pay all their own utilities and are responsible for yard maintenance. There is also a transferable home warranty on the property!
The location is ideal -- you are halfway between Downtown and the Garden District. Only one block to Magazine St, two blocks to Coliseum Square, and just 1 minute to the Expressway. Walk to coffee, Surrey's Cafe, The Bridge Lounge, Spa Isbell (all within 2 blocks) and more! This area is getting better by the minute.
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| Contact person: |
Joey Walker |
| Seller Type: |
AgentorBroker |
| Phone: |
504-610-5637 |
| Email: |
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| Web Link: |
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| Listing Status: |
For Sale |
| Property Type: |
Triplex |
| Price($): |
379000 |
| Street Address: |
1364 Constance St. |
| City: |
new orleans |
| Region: |
Louisiana |
| ZIP/Postal Code: |
70130 |
| Bedrooms: |
7 |
| Bathrooms: |
3 |
| Stories: |
2 |
| Square Feet: |
2,948 |
| Lot Size: |
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| Year Built: |
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| Owner Finance: |
No |
| Cap Rate: |
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| Net Operating Income: |
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| Price Per Square Foot: |
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