1411 Terpsichore St, New Orleans, LA 70130

$889,000
7
BD
4,990
SqFt

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List Price
$889,000
MLS#
2578980
Status
ACTIVE
Type
Multifamily
Style
Other
Stories
2
Bedrooms
7
Half-baths
2
Living Area
4,990
Parish
Orleans

Property Description

Fully leased at $7,650 a month ($91,800 a year, a 9.7 gross rent multiple), this circa-1850 Greek Revival 4-plex anchors the edge of Coliseum Square, one block from the St. Charles Avenue streetcar. Step inside & the pedigree shows: soaring ceilings, heart-pine floors, exposed beams, cypress millwork, original transom windows & elegant medallions overhead. Four townhome-style residences — two 1,500 sq ft 2BR/1.5BA, a 1,073 sq ft 1BR/2BA & a 995 sq ft 2BR/2BA — each with a private entrance, outdoor space & in-unit laundry, totaling 4,990 sq ft & seven bedrooms. Two already have new kitchens with quartz counters, contemporary cabinetry & ss appliances; the other two leave value-add upside on the table. Relax in the rear courtyard, a quiet retreat tucked behind the building & a draw for long-term tenants. Separate electric meters, a 36 x 128 lot & Flood Zone X, a real edge on insurance in this market. Owner-occupants, take note: live in one of the 1,500 sq ft homes & let the other three cover $5,250 of the monthly payment. Ask for the full lease schedule & a lender-quoted buydown scenario. Magazine Street dining & shopping are a short walk, with Tulane & Loyola a quick ride uptown. Proven cash flow with a Lower Garden District address — ready when you are.

Additional Information

Exterior Features
Balcony, Courtyard, Porch
Roof
Shingle
Sewer
Public Sewer
Water
Public
Pool Description
None
Heating
Central, Ductless, Window Unit(s), Wall Furnace
Cooling
Central Air, Ductless, Wall Units, Window/Wall

Mortgage Calculator

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Annual Interest Rate
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Calculator source: Real Geeks

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