This is a triplex that has everything you could want in a rental property. It's in an Excellent Area (only steps to Westwego Playground), Has Excellent Tenants, Is Easy to Maintain, Easy to Rent, In A Safe Area with a Good Police Department, Good Cash Flow, Tenants Pay All Utilities, No Flood Insurance is Required, All Units Are All Electric, etc. It is just a really good rental property in many different ways. The property is located in Westwego, which is a small, nice little city. With the new Huey P. Long bridge you have easy access either from Metairie or New Orleans. Westwego & the surrounding area is ready for growth & appreciation in the coming years. There are 3 units total that bring in a total of $2050 per month in rental income or $24,600/year. Property taxes are approximately $800 per year & insurance is about $1200 or so a year. The rents could be higher. One of the units is 3 Bedrooms, 1 Bath & rents for $850.00. It has Central Air & Heat & is all electric. It is ready to rent & doesn't need a thing. The other 2 units are 1 Bedroom 1 Bath each & rent for $600 each. These 2 units could use a little freshening up. One of the units has paneling, so perhaps you could replace it with sheetrock. Overall, nothing too too extensive though. But if you did freshen them up some, you'd probably also be able to get a little more rent too. I chose to leave the 3 Bedroom unit vacant for now so that it can be shown. One of the 2 Bedroom units is also vacant. These units rent quickly though. I'm leaving these 2 units vacant for now, so that they can be shown easily. However if you prefer, I can rent them prior to any sale. They're not difficult to rent. The other unit is rented & the tenants have been there a while & want to stay. Tenants are on a month to month lease. All 3 units have their own individual washer/dryer hook ups. Overall the whole place is pretty easy to maintain. The upstairs unit does have a slight tilt to the left, but it has probably been like that for many years & really shouldn't be an issue to rent it out. The property has ALREADY been reduced in price to allow for this & will not be reduced again. Besides it shouldn't be that big of an issue anyway as it has been rented out like this many times in the past. Downstairs seems to be pretty level throughout. You could maybe also have a 4th rental unit as well. There is a storage house in the back that could maybe be turned into an efficiency & rented. Check with the city first though to verify the zoning, just to make sure. If you were to convert this into an efficiency, you would need plumbing & probably some electrical work. It already has sheetrock. An efficiency like this could probably bring in an additional $500 a month. The reason for selling is because I am involved with other aspects of real estate & I don't have enough time to do them all. So I am passing along a good opportunity to someone that wants to build some income through rental property. The property is being shown by appointment. Please DO NOT WALK AROUND THE PROPERTY OR DISTURB THE TENANTS without an appointment. To set up an appointment call me at (504) 475-0288. If I do not answer, please leave a message & I will call you back. If you have any questions, please let me know. Owner will not finance or do a lease/option. Owner is a licensed agent.
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