1724 FERN Street

New Orleans, LA

Property Type: Multifamily
3,280 sqft

$399,000

Details
Location

Remarks

Rare opportunity--4-plexes seldomly come to the market in the Carrollton area. Located in an X flood zone, this property offers reduced flood insurance costs and peace of mind in a highly sought-after neighborhood. The upstairs features two turnkey, renovated, and rented 2-bed, 1-bath units with wood floors, high ceilings, decorative fireplace mantles (non-functional), and window units providing both AC and heat. There is no central AC throughout the property. All are shotgun style homes. The roof and all water heaters were replaced in 2023. The property has separate electrical meters for each unit, a single water meter, and a full electrical upgrade completed in 2002. Each unit has its own washer/dryer space with storage, plus access to a shared backyard. All four units are currently rented, providing consistent income. The two downstairs 1-bed, 1-bath units are well below market rent and present a clear value-add opportunity--good for an investor looking to increase returns over time. This property could also be a great option for an owner-occupant: live in one unit and let the other three help cover the mortgage. Just steps from Carrollton Avenue, the St. Charles streetcar line, shops, restaurants, and both Tulane and Loyola Universities, this property blends steady cash flow, classic New Orleans architecture, and strong upside potential--a rare find in one of the city's most desirable neighborhoods.