1411 TERPSICHORE Street
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $889,000 |
| No. of Units: | 4 |
| Year Built: | 1850 |
| Lot Size: | 4,990.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $222,250 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-NOMARLA-2578980
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