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$895,000
Est. payment /mo
7 Beds
7 Baths
3,145 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 3,145 sqft
Price per Sqft $284
MLS Listing ID 2509751
Style Split Level
Bedrooms 7
Full Baths 7
Construction Status Very Good Condition
HOA Y/N No
Year Built 1933
Lot Size 3,301 Sqft
Acres 0.0758
Property Sub-Type Other
Property Description
Turnkey Investment Opportunity with Strong Income in Prime University Area
Rare opportunity to own a fully operating, income-producing property in the heart of the University area—just minutes from Tulane and Loyola. This historical gem spans three addresses: 1801 & 1803 Adams Street and 7625 Hickory Street, totaling approximately 3,143 square feet of rentable space.
Currently 90% occupied, this turnkey asset brings in $10,300/month in gross rental income with only 30% in operating expenses—delivering a solid 10% cap rate. All units are rented furnished, and furniture is included in the sale. Even better, the leases include all utilities and WiFi, which makes the property especially attractive for students and short-term renters looking for convenience and value.
An optional on-site storage container is also available and can be purchased separately if desired.
The property has been well maintained and offers flexibility for future use. With its location, layout, and income performance, this could easily be converted to a group home, assisted living, or senior housing facility.
Whether you're looking to expand your portfolio or step into a cash-flowing property with minimal effort, this one checks all the boxes.
Rare opportunity to own a fully operating, income-producing property in the heart of the University area—just minutes from Tulane and Loyola. This historical gem spans three addresses: 1801 & 1803 Adams Street and 7625 Hickory Street, totaling approximately 3,143 square feet of rentable space.
Currently 90% occupied, this turnkey asset brings in $10,300/month in gross rental income with only 30% in operating expenses—delivering a solid 10% cap rate. All units are rented furnished, and furniture is included in the sale. Even better, the leases include all utilities and WiFi, which makes the property especially attractive for students and short-term renters looking for convenience and value.
An optional on-site storage container is also available and can be purchased separately if desired.
The property has been well maintained and offers flexibility for future use. With its location, layout, and income performance, this could easily be converted to a group home, assisted living, or senior housing facility.
Whether you're looking to expand your portfolio or step into a cash-flowing property with minimal effort, this one checks all the boxes.
Location
State LA
County Orleans
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features Off Street
Water Access Desc Public
Roof Type Shingle
Building
Lot Description City Lot, Rectangular Lot
Entry Level Two,Multi/Split
Foundation Raised, Slab
Sewer Public Sewer
Water Public
Architectural Style Split Level
Level or Stories Two, Multi/Split
Construction Status Very Good Condition
Others
Tax ID 716301509
Special Listing Condition None
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Listed by LATTER & BLUM (LATT07)