Warehouse District Condos in New Orleans, One Bedroom condos are making a comeback!

    The recent  real estate trends of the Warehouse District Condo Market over the last year is that the two bedroom units were the condos that were the most sought after.   Now we are beginning to see the comeback for the one bedroom units.  You still cannot just sell anything but those priced right that have been updated are constantly getting shown and going under contact.

     We are seeing a combination of new arrivals, people now renting, investors  and second home people looking and finding very few things to look at. Lenders are still requiring 10% for owners and 20% for second homes.  The one exception is the Cotton Mills Condos  which have been FHA approved meaning a 3.5% downpayment. 

Cotton Mills Condos #349, Living Area and Windows

     The Cotton Mill Condos has always has been a favorite of the under 200k price range.  There have been 4-5 recent sales this year and only a very few one bedrooms worth looking and and a couple of two bedrooms.  I have one favorite in the one bedroom category and it is a bit pricey for now.

Cotton MIll Condo #336, Pool, New Orleans Condos

    Magazine Place at 760 Magazine Street has two one bedroom condos worth looking at.  They are both priced for over 200k but both have reserved parking which is worth 25k in the New Orleans Warehouse District.  Smaller units but both have been updated with v ery moderate condo fees.  Below are roof top views from Magazine Place looking at the New Orleans Skyline.

760 Magazine Place Condos-Rooftop Views

    Julia Place Condos at 333 Julia Street  has several units without parking and have not been tootally updated. Expect to pay $210-$220 for the better condos with parking and good views.  There are currently none for sale.  A recent law suit against the condo association  has put a damper on financed units.  The recent sales have been cash.  Look for the law suit to be settled soon.  Buy a unit here with parking unless its a super deal.

Julia Place Condos, Warehouse District Condos in New Orleans

    402 Julia, The Lofts has a couple of small units that need updating but the prices are in the 140k-160k range.  They need new kitchens and baths.  The have great location and you can rent a spot in the Emeril’s lot.  These could be good buys but you will have to update.  Neither of the views are great.  The Lofts on Julia are above the art galleries on the first floor.

Warehouse District Condos, Julia Street Art Galleries

    I can cover the rest of the associations on a later update.  This gives you an idea of the market and knowing it is hard to now find that unit. Get started early so you will be able to know what is good and what is not a buy.  I can get you updated with condos that meet you criteria so you will have some knowledge.  I can share my knowledge as well which is as good as any agent that works the New Orleans Real Estate Market.

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA