401-421 W. 121st Street Cut Off, LA 70345

Owner Finance Terms: Bond for Deed, 0% (ZERO PERCENT) interest for the first 12 months and 3% for the remainder. 12-year amortization term with a $400,000 down payment. See attached for financials.

Price: $56,000 per house, total sales price $1,120,000

Current taxes for all 20 homes: $2,111.99/ annually total

Size:

Two Bedroom: 1,214 Sqft (15 Separate Detached Houses)

Three Bedroom: 1,455 Sqft (5 Separate Detached Houses)

Rare opportunity to purchase 20 separate detached single-family houses sitting on almost 9 acres in Cut Off, Louisiana. Located on a beautiful tree-lined street, this property features 15 two-bedroom, one-bathroom separate detached units and an additional 5 separate houses that are three-bedroom, one-bath homes. Each house is equipped with their own attached ​one car garage. Currently, there is one septic system shared for all 20 houses, however each home is separately metered for electricity and water. These houses took some damage in Ida and will need new roofs and some interior renovations. Per the seller, none of the homes flooded from rising water in Ida, all damage coming from wind and rain. Once renovations have been completed, an Abbott Price rental analysis estimates the two-bedroom homes could potentially rent for $1,100 and the three-bedroom homes for approximately $1,250. Abbott Price strongly urges potential investors to consider commercial rental clients looking for employee housing within the oil, boating, and helicopter industries located nearby. According to the seller, before Hurricane Ida all houses were rented by one local helicopter company. Flood insurance is available for approximately $1850 per house which would be optional if owner financed, but keep in mind according to seller the properties did not flood during Ida.

*PLEASE NOTE: Addresses being sold are 401 through 421, sale is excluding address 402 West 121st St., Cut Off, LA 70345 (Could be purchased separately).