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$ 1,400,000
Est. payment /mo
Active
2123 27 CARONDELET ST New Orleans, LA 70130
16 Beds
14 Baths
7,511 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,511 sqft
Price per Sqft $186
MLS Listing ID 2495628
Style Other
Bedrooms 16
Full Baths 14
Construction Status Average Condition
HOA Y/N No
Year Built 1920
Property Sub-Type Apartment
Property Description
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.
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
Interior
Heating Window Unit
Cooling Window Unit(s)
Fireplace No
Exterior
Parking Features None
Water Access Desc Public
Roof Type Shingle
Building
Lot Description City Lot, Rectangular Lot
Entry Level Three Or More
Foundation Raised
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories Three Or More
Construction Status Average Condition
Others
Tax ID per assessor
Special Listing Condition None
Listed by Bridgewater Realty Advisors, LLC