406 & 408 Fontelieu Drive

Investor special! This unique income-producing property offers four rental units generating a total of $1,950 per month, providing steady cash flow from day one with its 100% occupancy. Situated on a spacious 195' wide x 134' deep lot, this property is full of potential for the right buyer. First property in the package is a 3 bedroom 1 bath brick on slab home with long-standing tenant. Next is a triplex with 2 downstairs studios and one upstairs unit. Shared laundry is used for all 4 tenants, though the house does have hook ups. This could be an ideal owner occupant/landlord opportunity too. Many years ago- the property was used as a mechanic shop. So the property includes large covered bays that open the door to a variety of possibilities—convert to a car wash, auto detailing service, workshop, or storage facility. With plenty of land to work with, there's room to expand or redevelop in the future. This property is perfect for an investor or entrepreneur with vision. Whether you hold for cash flow, redevelop, or explore business use, the opportunities are here.

Listing ID:

2020022614

Parish

Iberia

Area

I2

Subdivision

Pourciau

Financing

Other, Cash

Assessment

0503984000a

Legal Desc

1- 65 X 134 LOT 10, LOT 12, FONTELIEU DR., LOT 20. BEING LOT 11, BLK B, PART 2, POURCIAU SUB 1- 65 X 134 LOT 11, LOT 13, FONTELIEU DR, LOT 19 BEING LOT 12, BLK B, POURCIAU SUB 1- 65 X 134 LOT 12, LOT 14, FONTELIEU DR, LOT 18 BEING LOT 13, BLK B,

Parking:

Open Parking Spaces: 6, Assigned, Covered

Cooling

Window Units

Heating

Wall Units

Lot Dimensions

195x134

Construction

Other, Concrete, Brick

Roof

Metal