Unique Old Town Triplex Loft: 1448 N. Orleans
This 1890s brick building, now known as the Carriage Park Lofts, at 1448 N. Orleans in Old Town was converted into 12 lofts in 2000.
Many of them have unique outdoor spaces and this one is no exception. It’s also a triplex, with 20 foot high ceilings.
Prudential SourceOne Realty has the listing (see more pictures here and a virtual tour here.)
Unit #2A: 2 bedrooms, 1 baths, den, no square footage given
- Sold in November 2000 for $248,000
- Sold in April 2006 for $381,500
- Currently listed for $399,900 (plus $25k for parking)
- Assessments of $236 a month
- Taxes of $3,618
Fannie and Freddie are breaking new lows. Total meltdown. They should be tapping into the Treasury extremely soon. Maybe even by the end of the day. If you weren’t a homeowner before, you will be now!
This is pretty cheap for Old Town, for a nice unit. Too close to the Section 8?
it’s right across the street from the el. plus i think the horses live on that block so the smell is likely a downside.
The news from Fannie and Freddie is not surprising. We’ve been talking for weeks on this board that their common equity is worthless.
Now theres speculation that even their unsecured debtholders will take a hit, however. This is a very serious development if true.
Yes, we have–but plenty outside the blogosphere bought into that garbage that there was a–what was it? 90% or so?–chance that the Treasury would not have to backstop after all; you know, it was just there for reassurance. As though blank checks don’t get cashed.
Also, knowing Freddie and Fannie are circling the drains doesn’t mean it isn’t news when you finally hear the glug.
Overpriced much? They’re looking for almost 20k over the 2006 sale. Any price history?
They’re actually asking for $45k over the ’06 sale b/c of the “separate” parking.
Regarding the property: didn’t bother to check the room dimensions but the photos sure look crowded – and I don’t think it’s the furniture.
Regarding the GSEs: Should have taken my advice and bought puts on them 🙂 I’m making a few extra bucks these days. There’s still some downside if you can handle the risk.
I’m a strictly buy-it-and-forget-it index kind of girl–but it’s fun to watch from the sidelines!
I think the seller lost the memo that prices have fallen back to the 2004 level.
The price needs to fall roughly 25% , i.e. $300,000
Buyers have come to understand that they are not in the business of bailing people out of stupid investements.
I was thinking the same thing, Gary.