Archive for the 'Uptown NOLA' Category
St. Charles Gardens Condos, 3915 St. Charles Ave, New Orleans…Halfway between Audubon Park and The Central Business District
St. Charles Gardens Condo, New Listing #312 $269,312
The St. Charles Garden Condos is 93 units spread over the 6 floors with all the units having an exterior view with a balcony and very similar floor plans for all the two bedroom and two bath units. The units have secure gated parking with each having an assigned spot. This is very valuable.
The location is in the center of Uptown New Orleans almost in between the Central Business District and Audubon Park. You have an easy commute to either or just take the streetcar when the days are nice. This is an ideal location for medical students for LSU Medical or Tulane Medical Schools. Its an easy commute to Loyola and Tulane undergraduate schools and the law schools of each. If my kids were still in school this would would be an ideal place to live. It is also a great location for a second home.
The amenties include a tropical courtyard and swimming pool on the ground level. There is several elevators in the back and front. All the parking is in a gated assigned spot. The manager has an office on site. There is a large laundry on the first floor for those large loads. Most units have a stack-able washer and dryer unit in the condo. Each unit has a small balcony with exterior views. There is a well equipped gym on the 3rd floor.
The condos were converted from apartments in 2005 and most were redone then to update the kitchens, baths and the isides of the units. All the two bedrooom units have the same basic floor plan with kitchen at one end of living area and the balcony at the other end. Units get natural light without a lot of direct sun. The concrete construction keeps the noise down and the units well insulated.
Condo Unit for Sale is a 2/2 with assigned parking
The condo is 950 square feet of living with the total with balcony of about 1000 sq. ft. The livng area and kitchen have wood floors. The kitchen has granite counters, stainless appliances, the baths have been update. Master has a shower and the hall bath has a tub. The unit unit goes from the courtyard to the exterior wall so you have a bedroom on each side of the bath. The Master Bedroom looking to the outside with the second bedroom towards the courtyard.
The condo fees are $400 per month for the two bedroom units. The fees include water, sewerage, garbage, insurance of the building, Upkeep of the common areas, management fees and maintenance of the common elements. The condo association has very adequate reserves. They are paying for new elevators out of the fund so there is no assessment. This is a sign of an healthy condo association.
The main points are secure parking, a great location, great amenties and an updated place where you can lock and leave easily. St. Charles Gardens……Check out your other condo choices on St. Charles Avenue Condos in New Orleans
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This condo located in the lower Garden District is a great example of an historic renovation of an apartment building into 8 condos. Most likely this was not always an apartment complex but a townhouse double from the 19th century.
The location is half a block off St. Charles Avenue and several blocks from Magazine Street. Great area to walk or ride to various locations. No need for a car here. There is no parking but parking on the street is easy 95% of the time. The parades go by here so then it gets tough to park.
One of the nice things about this unit is the high ceilings, wood floors, many windows, crown molding, large rooms and the balcony that runs the length of the unit on the second floor. The condo is over 850 sq. ft with one bedroom, an eat in kitchen, large updated master kitchen and bathrooms. The condo fees are very reasonable at $229 per month.
The kitchen has been updated with newer cabinets, granite counters and appliances. All appliancesdo stay along with most of the furniture. The eat in kitchen has gas cooking which is not the norm in most complexes. The gas is in the condo fees. You can open the kitchen door onto the balcony to get the fresh morning breeze and light.
The large rooms give the condo a much larger feel as all rooms have tall ceilings and wood floors with multiple windows. The master bedroom and updated master bathroom are large for a condo. The second bath is a half bath and laundry off the kitchen. The second floor is generally the best place to be in a complex such as this. More light and better views.
Sold furnihed for $175,520 excluding some personnel items and artwork. Would make a great second home just in time for the holidays.
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One of the hottest segments in the New Orleans Condo Market is the sale of upscale condos that were once single family homes and historic Duplexes. Its easy to see why when you see how nice some of these fully restored buildings have become. It makes sense where the neighborhood is right. You can be in great neighborhoods for half the price and even more of your single family neighborhoods.
The Uptown, Garden District, and Lower Garden District is where you will find most of these condo complexes. The majority of the these will be between Magazine and St. Charles Ave. The areas are great for walking, biking, and streetcar rides to the rest of town. Walking to a coffee shop, sandwich shop, local store, antique shop, art gallery, and fine restaurants are all within easy reach.
The main attraction remains the old world charm of these homes that are now condos. The high ceilings, balconies, porches, wood floors, large windows, natural light, and that neighborhood feel. The best ones are the ones where the developer kept the old fireplaces and tried to duplicate the old features by refurbishing many of the details. Once this was done he made modern baths and kitchens.
The one pictured above is on St. Charles Ave. nestled among million dollar homes. The one picture below is in the Lower Garden District. I sold one of the balcony units several years ago for around 160k. You could not find it in today’s market at that price however.
The purchasers are split between second homers and purchasers using them as their residences. Financing was once an issue with these complexes but that hurdle can now easily be overcome with all the local New Orleans Banks wanting to do more business.
If you are a second home purchaser you do have to think about not being there as many are not managed but taken care of by the people living there. You want to make sure the complex is well taken care of and the maintenance is up to date. Many over come this negative with the desire to have a historic property. They make arrangements to have someone take a look at the property when they are not there.
When you do your inspections you will have to do a more in depth inspection than you would have to do in a large managed complex. Since you are going to be one among four or five units, your expenses for major repairs are going to be more. So looking at the roof, foundation, and checking for termites is strongly recommended. Most of the condo fees are going for insurance and the week to week upkeep of the grounds and minor repairs that come up.
One of the things I do get feedback on is how much the purchasers of these historic condos enjoy their choice. They enjoy the feel and love the idea of walking the neighborhood and leaving the car behind. Pets are almost always welcomed.
There are quite a few condo associations where the developers has purchased several homes next to each other to make a larger condo association making the association larger and easier to maintain. Almost of all these developments figure the condo fees on the size of the units. The more valuable units are the ones with the balconies and porches. The resales are always better on these as it is something people desire to have.
The condo above were on Magazine Street. It was a total renovation of 5 units where almost everything was new including electrical, heat, air, and plumbing. The one below was on Prytania and was also a total redo. It sold recently within a week of coming on the market.
Many clients start looking in other areas of town because they have less knowledge of these areas. Then if they are interested we review and look in this segment because they just get so much more for their money than they would in the Warehouse District or French Quarter condos.
There are not going to be that many choices but since I really like this segment I try to see as many of these that I can in order to stay on top of this market.
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I am finding that more and more people want the amenities that the larger condo associations have as long as the condo fees stay reasonable. When you live in or visit a small condo, you like spending time outside by a pool or lush courtyard. You cannot generally find this all over town but they tend to be concentrated in large buildings in the Warehouse District, French Quarter and along St. Charles Ave. in Uptown New Orleans.
You can find courtyards in all areas of the condo market. The tropical courtyard just says “You are in New Orleans” Many times you will find this in the larger condos but that does not mean it would not exist in smaller complexes. Most of these tend to be in the French Quarter where a small courtyard can really be made to be lush and inviting. It is up to the residents and owners to decide which they they will go. It will add value to the condo association as they become nicer and more inviting.
Many of the larger condo associations have added gyms for exercise. These can be rather Spartan to be one that has everything. This is more often found in the New Orleans Warehouse District where large building have been converted into condos. You will also see some very nice lobbies and meeting areas in some of the larger condo associations as well.
The swimming pools are enjoyed by all, most never get in but do enjoy the water and the relaxing quality of the blue liquid. Great way to cool off on our hot steamy days however. You can even jump in the pool in December with our weather patterns.
All the extra amenities will cost money and is spread over everyone’s monthly condo fee. Living in a larger complex makes these very affordable. As a resident you will not need to go to an outside gym. You may take your bottle of beer or glass of wine to the courtyard to relax. You can grill in most of these areas as well.
All these things just add to the quality of life issues. Its fun to enjoy where you live , getting out without going out of the complex is easy.
If you ever rent your condo then these quality of life issues do play a large part in the mind of the renter. These units just rent faster and stay rented longer.
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The Lafayette Oaks Condo in the Garden District of New Orleans near Prytania Avenue is one those condo associations that you rarely see much turnover. Driving by you would never know what is behind the front gates. This is the case with many Condos in New Orleans but when there is little turnover you never get a chance to go as an agent. You forget how nice the complex is until you see it after four or five years.
Its is one of those condo complexes where people call this home. The units are all large and all are at least two bedrooms. All the units have garage or covered parking in the rear. The five story building features only four condos per floor or a total of 16 units. Most of the units are at least 1700 sq. ft. or more. There is an elevator in front of the building. All the units have ample common area out side their units overlooking the atrium.
The pool and courtyard are well maintained and really has that New Orleans feel. Tropical plants and a well kept pool area make this amenity sparkle. The common areas are shape and clean with lots of tropical plants and outdoor furniture. The condo fees are higher in an association like this but it is kept in first class shape, the units fewer and larger. Each owner pays more but then its their primary home.
The immediate residential area has shown dramatic increases in real estate values since these units were built around 2000. This was about the time condos were becoming a place to enjoy urban living with the comforts of home. Walk through the Garden District. Walk to the St. Charles Ave Street Car line where its an easy ride to the French Quarter or to Tulane, Audubon Park, Loyola if you go the other way.
I was impressed on a recent visit so wanted to pass the info along. Always good to revisit your memory and keep up with the market as a looked 5 years ago is a lot different than a look this month.
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One of the up and coming areas in New Orleans for Condos is along Magazine Street where you will see a variety of businesses from antique stores, art galleries, restaurants, bars, clothing stores and almost anything New Orleans that you can imagine. If you are looking for an area where you can get out and walk this area may be for you. The St. Charles Street Carline is several blocks away that can whisk you off to the French Quarter or Audubon Park.
What you will find is historic homes and apartment complexes turned into condos in neighborhood off Magazine or right on the Street. Magazine Street is not that busy to enjoy a stroll to your favorite spots. You will find doubles and fourplexes that have been converted into condos. People like them as many of the historic features have been left in tack. There are larger homes that have been converted as well.
There will be few large complexes as it really a neighborhood that surrounds Magazine Street as it travels from the Warehouse District through the Lower Garden District to the Garden District and on the Uptown Area of New Orleans as it hits Audubon Park. Some of New Orleans finest neighborhoods are within a block of Magazine Street.
One of the premium finds is to find a condo that has a balcony or porch that faces the street. There are not many but when you find one it could become a real place to relax and watch the world walk and ride by.
My friend Susan Prows from Portland, Oregon happened to find one of these gems after looking in the French Quarter for something that was much more expensive. She found the historic balcony condo under a spreading oak tree with some great windows, wood floors, high ceilings, wonderful natural light with many historic features. With her touches she now has a real treasure in a New Orleans neighborhood and plenty of people who would like to visit her in New Orleans.
The nice things like this did sell rather quickly. Getting the premium one is always the best way to go for future resale value and the enjoyment of the moment. If you buy one from me we can walk to get the free ice cream cone or beer. It will be your choice…Maybe we can get Susan to comment on her purchase and the change in lifestyle that New Orleans offers.
Now if you are looking something brand new and sleek like in Dallas or Houston you will most likely not find it along Magazine Street.
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The New Orleans Condo Market is doing better in all areas in 2012 with increased sales and a much more limited supply. The better units that are priced correctly are generally selling with 2 weeks. The condo market is following the uptick in the single housing market that picked up in the Spring of 2011. This is happening in all price ranges.
Reasons this is happening….
Interest rates are below 4% and local banks have financing for all types of condos. Owning is cheaper than renting at this rates in many cases. Your principal and interest are about $900 when borrowing $200,000.
Rental Rates are up over 10% and are not easy to find as competition is stiff for the nice things. I recently had a rental listing and 16 people looked at it in three days. It was rented the second day for over $1500 for a small two bedroom and one bath shotgun.
Pick up in other condos areas, Warehouse District and French Quarter This is especially true with people looking for second homes where finding something in their price range is now harder to find. Many more are willing to come to Uptown New Orleans.
More people want the area, its getting more exposure The area along St. Charles Ave. and the area between Magazine and St. Charles is getting plenty of interest. You can walk to so many places. Parking is much easier than other areas. So many things to do….
Variety of Styles…. You can look at historic renovations of old homes, to small complexes and some large complexes along St. Charles Avenue. It all depends on what you like.
Condos are much cheaper than homes…Starting out the prices of homes are pricing many out of this market. So a condo is a viable option that gives you a carefree home.
Growth in the local Job market , The New Orleans area is producing more jobs and people want to live where the action is. People are feeling good about themselves and the local economy.
People are just more positive about the city and this translates in a desire to be part of something special….Thanks to Mayor Landrieu for being a great leader….There are new things on almost every block in the area.
The City of New Orleans is just getting younger…Many time condos are a better way to get started and young people are a great fit to own a condo.
The prices are up moderately and that have been about even since 2009. Many sellers are just pricing the condos better in most cases. You will see ones overpriced but they will sit there.
Now may be the time for you to be in the market. Get an agent that knows the market and is not afraid to give you the pros and cons on the condos that you will see. Get the sales history and the overall trends of the area.
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The Uptown condos located at 4007 St. Charles Ave. New Orleans, La. 70115 are becoming a much better pick than most people currently know. It is undergoing a transformation from a complex of more elderly to more of a mix of young, middle and older. You are seeing students and second homers buying because they do offer a lot. When you see this transformation taking place you can get some fairly good deals.
Location…..Being on St. Charles Ave between Marengo and Constantinople you are halfway to downtown and halfway to Audubon Park, Tulane University and Loyola University. This puts it close to the medical schools as well. You are on the streetcar line for easy transportation. You can view all the St. Charles Ave. Mardi Gras parades as well.
Parking…..The units have gated parking which is not common for complexes in this price range. It is easily worth 10k-15k in this area of town. There is an elevator as you enter as well as stairs from all sides.
Prices….You can buy a unit in the 160k range. More for condos that have been updated and less for condos that are nice but have not completely updated. The condo fees are very reasonable coming in at less than $170 per month.
Easy Floor plan….That features large bedroom with windows to the outside and a large living area that faces the courtyard. The kitchens are small but then most are for a one bedroom unit. Most of the units are one bedroom condos at about 650 sq. ft. of living. Decent amount of closets.
The only downsize that I see is lack of washer and dryers in each unit. There is a community wash and dry area. Some of the owners have put washer and dryer unit in but not the majority.
The complex is well kept….. and features an updated pool, secure entrance and management that has made many improvements and upgrades over the last 3-4 years. This will keep your values when you see well kept common areas such as you see here. Read the rest of this entry »
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Commodore Condos on St. Charles Ave. The Studio Condo #4 stands out for location and price ! A winner for Sale !
Studio Condos in the New Orleans condo market are not the norm. Very few exist and even fewer exist that have great locations. This studio that I have just listed for $121,000 on one of the most prestigious Avenue’s in all of New Orleans does have the location. Its located at 3300 St. Charles Ave. in the Commodore condos. Add the location to the historic building on the St. Charles Ave. street car line and you have a winner.
Studio condos are generally small units or basically rooms with everything being in one room. They are generally going to be smaller cheaper than a standard one bedroom unit. The space may be leftover and this is the best use. Rarely do they have separate kitchens.
Another unique feature is that it has a separate kitchen, living-bedroom area and a very large bathroom for a studio. The natural light and windows make the unit feel larger than it really is. Being right under 400 sq. ft. the condo is small. Being small it is very energy efficient.
The Commodore Condos is next door to the new Borders Book store. The courtyard is right outside your door. The secure entrance and secure entry to the building give you a great deal of privacy. Walk out the side door to an Uptown New Orleans park. You can park on the street with ease. The present owner rents a spot from one of the other owners for $75 per month in a gated parking lot behind the condos. You really do not need to use your car that often living here.
The condo #4 features wood floors, nine foot ceilings, crown molding, granite counters, stainless steel appliances, tile floors and is tastefully painted and decorated for a small condo. The present owner set an office in the kitchen which could be used as a breakfast area. This is a great place for a student, second home or someone just starting out. The present owner will sell the furniture at a bargain price with a sale. The building is pet friendly and secure.
With interest rates at 4.5 percent your principle and interest would be less than $600 per month. Add your modest condo fees and taxes and you have another winner in a great location at a great price. This could be the best studio in the City of New Orleans at this price.
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The second home market in New Orleans Condos is changing in a couple of ways over the past year. There are always positives and negatives in a market. Buyers are branching out and buying in a variety of areas. We are seeing more action in the Uptown and Garden District markets. The New Orleans Warehouse District remains strong and the French Quarter continues to improve.
The Uptown Segment is improving for a couple of reasons, The prices are cheaper and the condos are larger in general. Many of the larger complexes have amenities and great locations that make walking very easy. If you need to travel the streetcar is always available. The best reason is that people are enjoying the lifestyle that the area has to offer. The City is not that large and most places are not that far away.
The Uptown area has always seen many students buying condos while they are going to school. We are seeing buyers using the condo as a home for the student with the idea of keeping it a second home in later years.
The interest rate are near 4.5% which means a principle and interest payment of $500 per 100k that is borrowed. You add property taxes and condo fees to that number. You can only have one second home at these rates and then it becomes an investment property. As a second home you will need a 20% down payment for a conventional loan and with good credit you will get these low rates.
One segment that is showing the most renewed interest is the historic condos that were once old homes. When you can find one of these in a good location with parking or easy access to parking it is a good find. There are not that many so its easy to narrow the choices down to the best condos. The two bedroom and two bath condos are the most in demand. The one bedroom units are still doing OK as well especially if you have a lower budget. Buyers still want location and condition and will not just buy anything.
The other segment that has shown strength is the complexes with secure parking and amenities that provide a place where you can come and go for months at a time and not have to worry about a thing. A great example of this are the Condos at 3915 St. Charles known as St. Charles Gardens . I have sold several condos within the last 18 months and have several clients that are interested in this complex at the present time.
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