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New Orleans Investment Opportunity - 605-07 S. Solomon Street - Double for Sale

By Lisa Heindel

Real Estate Broker/Owner with Crescent City Living LLC Licensed LA RE Commission

February 18, 2009 10:27 AM

****** SORRY, THIS HOME IS OFF THE MARKET ******

Great investment opportunity in the wonderful Mid City area of New Orleans. Easy access to downtown New Orleans and mass transportation, just around the corner from Rock N Bowl, restaurants and retail shops.

Live in one unit and rent the other, or keep the existing tenants and invest in the Crescent City.

001

$299,000

2 unit, raised basement double one block from S. Carrollton and 5 blocks from Canal Street.

First unit has 2 bedrooms, 1 bath and is currently rented for $1,148 per month
Second unit has 4 bedrooms, 2 baths and is currently rented for $1,400 per month
Separate meters
Off street parking
Disclosures available to qualified purchasers

For more information or to schedule an appointment, contact the West Bank Living Team.

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Bill Gassett

RE/MAX Executive Realty - Hopkinton, MA

Metrowest Massachusetts Real Estate

Cute house Lisa! Hope you find a great buyer for this one.

Feb 18, 2009 10:51 AM

Lisa Heindel

Crescent City Living LLC - New Orleans, LA

New Orleans Real Estate Broker

Bill, this is a classic raised basement home in NOLA. You see them all over the older neighborhoods and in some places they are the only ones that have off street parking.

Feb 18, 2009 11:10 AM

Elizabeth Cooper-Golden

Huntsville Alabama Real Estate, (@ Homes Realty Group) - Huntsville, AL

Huntsville AL MLS

Hey Stranger! Looks like you are just a busy bee! Are you getting all settled in to your new office? $1,148 per month for a 2 bedroom is incredible. Wow...who knew! Is it because of the location, or is that typical for your area? This seems like a good deal with the rental income. I'd much rather own a duplex than a single family, for the convenience of it all.

Feb 18, 2009 11:33 AM

Judi Morgan

RETIRED - San Antonio, TX

San Antonio, TX Real Estate

Lisa, nice looking property. Only 5 blocks from Canal Street? Good Investment -- won't take long to sell this one. :)

Feb 18, 2009 04:25 PM

Pam Pugmire

Silvercreek Realty Group - Meridian, ID

Meridian Idaho Real Estate

Lisa~ My husband and I looked at a property like this when we first got married. By the time we got ready to make an offer, it was already gone~darn! We looked later and just couldn't find the right thing, but have always wished we had gotten into something like this. Perfect opportunity for a buyer to have part of their mortgage paid every month by the tenant!

Feb 19, 2009 02:18 AM

Elizabeth, with so many damaged homes after Katrina, rents spiked upward and haven't really come down much since.

Judi, close to Canal St. and in an area that is FULL of revitalization.

Pam, I know a lot of people who invested wisely and have units that pay their entire mortgage now.

Feb 19, 2009 09:28 AM

Jesse Clifton

Jesse Clifton & Associates - Fairbanks, AK

You rents are close to what we get here... I was a little surprised by that but factoring in Katrina it makes sense. Nice looking property!

Feb 19, 2009 05:26 PM

Kris Wales

Keller Williams Realty - Lakeside Market Center - Macomb, MI

Real Estate Blog & Homes for Sale search site, Macomb County MI

Pretty! I asked my hubby where Mud City was and he knew right off the top of his head!

Feb 19, 2009 11:56 PM

Jesse, many of the homes lost in the storm were rental properties, so rents have gone up substantially since then. It's the best reason I can think of for someone to meet with a lender and find out if they qualify to buy instead of paying rent.

Kris, did he mention Rock N Bowl? It's a really fun place and all of the celebrities that come to town end up there dancing, drinking and bowling in the middle of the night :)

Feb 20, 2009 10:10 AM

Ray Nellum

Envision Real Estate Group, LLC. - Fort Smith, AR

Fort Smith Real Estate

Lisa, that's a great opportunity for someone. I've always thought a duplex is a great investment. That one looks like it's got some Character to it too!!

Feb 21, 2009 04:01 AM

Ray, I love these older homes - they DO have so much character and they just say New Orleans to me!

Feb 22, 2009 01:34 AM

New Orleans Investment Opportunity - 605-07 S. Solomon Street - Double for Sale

$299,000

Comments(11)

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