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Listed byBridgewater Realty Advisors • Bryce A Danna-Marullo • 504-901-0463
$ 1,325,000
Est. payment /mo
Active
2127 CARONDELET ST New Orleans, LA 70130
7,511 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,511 sqft
Price per Sqft $176
MLS Listing ID 2542887
HOA Y/N No
Year Built 1920
Lot Dimensions 6588
Property Sub-Type Commercial
Source ROAM MLS
Land Area 7511
Property Description
Value add multifamily in Excellent location. Estimated Post renovation of $2.4M plus. Located just one block off the iconic St. Charles Avenue and nestled directly behind the renowned Pontchartrain Hotel and Avenue Plaza Hotel, this 14-unit apartment complex presents a rare value add opportunity in a AAA+ location in the heart of New Orleans. Consisting of two separate buildings—one with 12 units and the other with 2 units—the property offers a mix of studios, one-bedroom, and two-bedroom apartments, giving potential tenants a variety of options. With strong area fundamentals, high demand for quality rentals, and exceptional walkability, this is a prime value-add opportunity for an investor to execute either light cosmetic updates or full-scale renovations. Once improved, the property has the potential to generate over $17,000 in monthly rental income. Alternatively, the complex could be repositioned and sold off as individual condominiums, unlocking significant upside. Whether you're seeking steady cash flow or a strategic redevelopment play, this asset sits in one of the most desirable and resilient rental markets in the city.
Location
State LA
County Orleans
Zoning HU-RM1
Interior
Fireplace No
Exterior
Utilities Available Natural Gas Available
Garage No
Building
Lot Description Other
Water Public
New Construction No
Others
Tax ID per assessor
Virtual Tour https://www.propertypanorama.com/instaview/roam/2495628
