Addresses: 2500-02 Freret, 2504-06 Freret, 2508-10 Freret, 2512-14 Freret, 2516-18 Freret, 2520-22 Freret, 2528-30 Freret, 2613-17 Second Street, 2515-17 Magnolia, 2509-11 Third Street (Vacant Lot).
Excellent investment opportunity in the Heart of New Orleans! Located just one block off Lasalle and several blocks from Louisiana Avenue, the improvements consist of nine (9) separate buildings containing a total of Nineteen (19) Two Bedroom Units, One (1) One-Bedroom with a Net Rentable Area of 14,679 SF.
Six (6) of the seven (7) doubles on Freret have Part I & Part II federal and state historic tax credit applications approved. Five (5) of the Freret doubles are approximately 85% complete, with the kitchens and bathroom and various finish work to be completed, meaning the accrued HTCs can transfer to a new owner to complete renovation. 2613-17 Second Street and 2515-17 Magnolia are currently occupied. 2515-17 Magnolia has a third unit at the rear of the property that is currently vacant.
Price: $2,500,000 total | $131,579 per unit | $170 per SF (+ a buildable lot!)
Unit Count: Nineteen (19) Total: Eighteen (18) Two-Bedroom (2 BR/1BA) Units; One (1) One-Bedroom (1BR/1BA) Unit.
Zoning: HU-RD2 Historic Urban Two-Family Residential District.
Gross Rent Potential: Estimated at $21,200 per month.
Please Contact Gordon McLeod (504.717.3648) for details