2023-09-19 23:09, User_1

EXP Realty LLC, ELISA COOL MURPHY Agent Valuation of this property is 585,000 USD

Description:

Introducing Bywater's Rainbow Fourplex – Your Gateway to Long-Term Property Portfolio Growth Potential!\r\n\r\nDiscover an exceptional opportunity to fortify your real estate portfolio with a resilient, low-maintenance investment in the heart of New Orleans. Nestled within the vibrant and eclectic Bywater neighborhood, this distinct property is hassle-free. \r\n\r\nFinancials: This remarkable fourplex boasts a consistent monthly rent roll of $5,125, attracting dependable, long-term tenants with timely rent payments. Electric and gas are paid by each tenant. Each unit has its own gas and electric meter. \r\n\r\nTenant Retention: Each of the four two-bedroom, two-bath units offers a roommate-friendly layout with private outdoor spaces both in the front and rear. This thoughtful design keeps occupancy rates consistently high.\r\n\r\nInvestment Value: Recent capital improvements totaling $80,000 have fortified the property, including hardy plank siding, electric tankless water heaters for every unit, exterior deck/balconies for each residence, extensive exterior repairs, fresh exterior paint, and the installation of washers and dryers in every unit. \r\n\r\nExtra Potential: Additionally, a rear shed presents an enticing opportunity to create a fifth unit, ideal for your personal use or an additional tenant. The construction cost for this conversion is estimated at $30,000, with projected monthly rents of $1,000, further bolstering your income potential. This pied-à-terre renovation cost has been considered by the seller and thus is reflected in the current pricing. \r\n\r\nFurthermore, this investment grants you the unique privilege of joining the thriving community of Bywater, either as a part-time resident or an occasional visitor. Don't overlook this extraordinary chance to acquire a property in a highly sought-after location, with a coveted Flood Zone X designation.

2023-09-19 23:09, User_1