21
See all 21 photos
$1,150,000
Est. payment /mo
12 Beds
10 Baths
7,092 SqFt
Active Under Contract
1722 ESPLANADE AVE New Orleans, LA 70116
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Key Details
Property Type Townhouse
Sub Type Townhouse
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 7,092 sqft
Price per Sqft $162
MLS Listing ID 2487241
Bedrooms 12
Full Baths 10
Construction Status Average Condition
HOA Y/N No
Year Built 1920
Property Sub-Type Townhouse
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
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features None
Water Access Desc Public
Roof Type Shingle
Building
Lot Description City Lot, Rectangular Lot
Dwelling Type Townhouse
Entry Level Three Or More
Foundation Raised
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Construction Status Average Condition
Others
Tax ID per assessor
Special Listing Condition None
Listed by Bridgewater Realty Advisors, LLC
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