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$ 1,325,000
Est. payment | /mo
7,511 SqFt
$ 1,325,000
Est. payment | /mo
7,511 SqFt
Key Details
Property 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
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.
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
Parking Features None
Water Access Desc Public
Building
Lot Description City Lot, Rectangular Lot
Dwelling Type Mixed Use
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Others
Tax ID per assessor
Acceptable Financing Bond For Deed, Owner May Carry
Listing Terms Bond For Deed, Owner May Carry
Special Listing Condition None
Nearby Locations
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