One House, Two Lots! Versatile Investment Opportunity in Norco LA
This single-family residence, which includes the adjacent lot, has a new metal roof and was previously framed for 3 bedrooms, 2 full bathrooms, and approximately 1,500 square feet. The structure is currently gutted; however, almost 90% of the rough ins, mechanical, electrical and HVAC have already been installed.
A recent Abbott Price property analysis indicates an estimated after-repair value (ARV) of $210,000, with rental potential as high as $1,800/m after renovation.
The property consists of two lots measuring 50 x 84 each (100 x 84 total). The vacant lot to the left of the house is zoned R1A, adding value as a potential rental property or MLS listing. R1A zoning allows for the placement of manufactured and mobile homes with vacant land in the area selling for $25,000 or more.
It is located adjacent to Airline Hwy, just 15 minutes from Louis Armstrong International Airport and 30 minutes from Downtown New Orleans, making this an ideal investment opportunity.
Investment Highlights:
- ARV: $210,000
- Lot size: 2 lots @ 50 x 84 each (100 x 84 total)
- Almost 90% of the rough ins, mechanical, electrical, and HVAC have already been installed
- Layout: 3 bedrooms, 2 full bathrooms
- SqFt: Approximately 1,500
- Condition: Gutted with mechanicals already in place (see above)
- Location: adjacent to Airline Hwy, just 15 minutes from Louis Armstrong International Airport (MSY) and 30 minutes from Downtown New Orleans.
