New Orleans Destined for Condos?

Are you in the market for a building that is aspiring to go condo?  Hitting our inbox today is the New Orleans on North G Street.  For a few bucks more than a $million, you can have a 13 unit building in a great neighborhood.  The comps on this building aren’t about rentals.  It’s all about condo from what we hear.  Go for it. 

A little history – The New Orleans was one of the first ‘desirable’ apartment buildings in Tacoma.  It was built in 1907 in the middle of the Stadium district with a fairly prominent view of the neighbhorhood, the water, and Stadium High School.  Architect Frederick Heath designed the original seven unit building for William Vrietenburg. The building changed hands several times during its first two decades in the neighborhood and the floor plans changed with each owner. By 1927 the building was up to twelve units from the original seven.  The building represents one of the few wood frame apartment buildings in a neighborhood full of brick buildings.  It could definitely be distinctive. 

Here’s what I’d love to see.  Buy the building and convert it back to its original seven units.  It hasn’t been that way in… ninety years, but I can always dream.

Listed with Paragon Real Estate Advisors