100 Sherwood Dr, Hammond, LA 70401

Property Description

9 single family homes PLUS approx 1 acre of land to develop. Subtract the value of the undeveloped lots and you are paying $118,500 per home. Located just outside downtown Hammond in a very pleasant area, this offering includes all but one home on the entire street. Very well-maintained, these brick ranch style homes offer low maintenance brick veneer construction, central air/heat and spacious lots. Currently under-rented, area rents indicate market rent of $1350 per month per house or more. At current rents annual revenue is $111,300. At $1350/mo per unit, annual revenue would be $144,800. Add additional revenue by improving the vacant land! RM-2 Zoning allows 2-FAMILY housing, if desired. Amazing returns possible!