2000 HOPE Street $1,395,000

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    2000 HOPE Street New Orleans, LA 70119

    • 30 Beds
    • 28 Baths
    • 21,000 sq. ft.
    • Multi-Family
    • MLS# 2423169
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    Views: 11 Days On Site: 171

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    Property Details

    NEW PRICE! Introducing the Hope & Allen Redevelopment Opportunity in New Orleans, LA. The property contains (13) doubles each with a 1 bed/1 bath unit on each side. There are (2) SFR buildings on the ends, one of them being 3 bed/1 bath and one of them being 1 bed/1 bath. Following renovation work, highest and best use calls for subsidzed housing, which call for $1,149/month for a one bedroom unit and $1,750/month for a 3 bedroom unit for a potential gross annual rent of $393,276. After stabilizing the property, the new buyer will be able to refinance and potentially pull all their cash out while maintaining a cash-flowing asset. The new assessed value should be significantly higher than the total loan amount from the construction loan used to take down the property. Rough terms for construction loan is 15-20% down, 10.5-11.5% interest rate, 12-18 months interest only payments. Current long term financing terms are sitting around 7.5-8% interest rate, 10 yr fixed, 30 year AM. Overall, 2000 Hope Street represents an extraordinary investment prospect. Reach out for more information. Actual addresses are 2000-2008 Hope St & 2601-2635 Allen St

    • General Features
      • Pool Features None
      • Year Built 1963
    • Building Features
      • Room sTotal 0
      • Roof Shingle
      • Number Of Units Total 0
      • Heating Y/N 0
      • Heating None
      • Foundation Details Raised
      • Cooling Y/N 0
      • Cooling None
    • Property Features
      • Sewer Public Sewer
      • Parking Features None
      • Lot Size Dimensions 34445
      • LotSizeArea 0
      • Lot Size Acres 0
      • Lot Features Irregular Lot

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    Property History

    Date Event Price Percent Change
    -- Current Price Source: Multiple Listing Service New Value: $1,395,000
    1/18/2024 4:08:10 PM Price Reduced Source: Multiple Listing Service New Value: $1,395,000 -5.42%
    11/17/2023 4:24:00 PM New in Database Source: Multiple Listing Service New Value: $1,475,000

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    Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.