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$ 1,150,000
Est. payment | /mo
7,092 SqFt
$ 1,150,000
Est. payment | /mo
7,092 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,092 sqft
Price per Sqft $162
MLS Listing ID 2487242
HOA Y/N No
Year Built 1920
Property Description
$100K PRICE REDUCTION. Ten units on Esplanade Avenue - restore units and keep as multifamily or convert to condos. Building needs about $200k in repairs but many units in good condition. The total rents listed on this page are pro forma rents and not the actuals.
The building contains ten (10) units with eight (8) 1 bedroom 1 bathroom units, one (1) 2 bedroom 1 bathroom unit, and one (1) 2 bedroom 2 bathroom unit. The units feature beautiful hardwood flooring, marble countertops, balconies, a fenced yard, and
high ceilings. The highest and best use of this property is for a purchaser to buy the building and complete the necessary renovations ($217,762) to bring back to commerce. A condo conversion will then be completed and each condo sold off separately for a total of $2,315,000. With the low cost basis and renovation budget, this will allow for a decent size profit for the developer of the project.
The building contains ten (10) units with eight (8) 1 bedroom 1 bathroom units, one (1) 2 bedroom 1 bathroom unit, and one (1) 2 bedroom 2 bathroom unit. The units feature beautiful hardwood flooring, marble countertops, balconies, a fenced yard, and
high ceilings. The highest and best use of this property is for a purchaser to buy the building and complete the necessary renovations ($217,762) to bring back to commerce. A condo conversion will then be completed and each condo sold off separately for a total of $2,315,000. With the low cost basis and renovation budget, this will allow for a decent size profit for the developer of the project.
Location
State LA
County Orleans
Zoning HU-RD1
Interior
Fireplace No
Exterior
Parking Features None
Water Access Desc Public
Building
Lot Description City Lot, Rectangular Lot
Dwelling Type Mixed Use
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Others
Tax ID per assessor
Special Listing Condition None
Listed by Bridgewater Realty Advisors, LLC
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