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$ 1,800,000
Est. payment | /mo
4,110 SqFt
$ 1,800,000
Est. payment | /mo
4,110 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,110 sqft
Price per Sqft $437
MLS Listing ID 2552021
HOA Y/N No
Year Built 1979
Lot Size 5,850 Sqft
Acres 0.1343
Property Description
Initial offering of a newly-renovated, fully-furnished, 100% leased, attractive and extremely well-positioned, turn key investment property in immediate proximity to both the Freret Street corridor and the core of Tulane University's campus. This 3plex has been meticulously renovated, with work being completed just last year. Each unit has tenants vetted to meticulous standards that pay on time and in full. Lease lengths are all 12 months (as opposed to the 9 month lease length you'll frequently find with student housing). All 3 units have significant outdoor space, especially the endcap units, for grilling and spending time in the sunshine, along with assigned parking and mature landscaping.
Property is located in flood zone x, with an assumable flood policy (and a modest premium). Zero deferred maintenance. A line of the future masters of the universe around the block looking for a luxury, low-touch lease arrangement. Asking 5% cap rate for such an appealing and stable long term investment. First showings will be conducted on May 15th (following the spring exam period).
Location
State LA
County Orleans
Zoning HU-RD2
Interior
Fireplace No
Exterior
Parking Features Three or more Spaces
Water Access Desc Public
Building
Lot Description Corner Lot, City Lot
Dwelling Type Other
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Additional Building Living Quarters
Others
Tax ID 615307313
Special Listing Condition None
Nearby Locations
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