518 24 Gov Nicholls Street

Description

INTRODUCING 518 + 524 GOVERNOR NICHOLLS STREET: This is a phenomenal Historic French Quarter redevelopment opportunity with compelling tax credit potential! **Part 1 of the State tax credits is approved for both buildings** Beautiful 150+ year old brick buildings with a spacious carriageway & extraordinary COURTYARD. Priced $720K BELOW recently appraised value! These properties are located just off Decatur Street & back up to the Ursulines Convent (which allows for some incredible views of MS River & downtown NOLA skyline)! Situated on an excellent block that provides convenient access to many of the French Quarters world famous dining experiences, entertainment venues, Jackson Square, Frenchman Street & just 1 block from the Historic French Market. The improvements consist of 12 units on 2 separate parcels of record (518 + 524 Gov. Nicholls Street) Balconies on both the 2nd & 3rd floor units fronting Governor Nicholls St. as well as on the 2nd floor of the rear units overlooking the courtyard. Separately metered utilities. Further Details: - Listed below appraised value - Full set of completed architectural drawings (included w/ sale)- All VCC violations have been remedied - Exterior has been repaired including new operable louvered shutters - Beautiful architectural details throughout- Part 1 of the State Historic Renovation tax credits are approved- Construction estimate for complete renovation cost (inquire for details)**Depending on the Buyer/Developer: Commercial Historic Renovation Tax Credit potential could be a sizable portion of construction costs needed to renovate these buildings (25% State & 20% Federal)**