2127 CARONDELET ST, New Orleans, LA 70130
2127 CARONDELET ST, New Orleans, LA 70130
2127 CARONDELET ST, New Orleans, LA 70130
2127 CARONDELET ST, New Orleans, LA 70130
2127 CARONDELET ST, New Orleans, LA 70130
2127 CARONDELET ST, New Orleans, LA 70130
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Shelly Paternostro

Shelly Paternostro

+1(504) 382-7777
Listed byBridgewater Realty Advisors • Bryce A Danna-Marullo • 504-901-0463
$ 1,325,000
Est. payment | /mo

7,511 SqFt

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$ 1,325,000
Est. payment | /mo
Save Virtual Tour

7,511 SqFt

Key Details

Property Type Commercial

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

ROAM MLS

NEARBY SCHOOLS & PROPERTIES

Shelly Paternostro

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
–Franklin D. Roosevelt

+1(504) 382-7777

shellypaternostro@me.com

203 Bradwall Street Luling, LA 70070, Luling, LA 70070, USA

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2127 CARONDELET ST