2127 CARONDELET Street

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.

Listing ID:

NO2542887

Parish

Orleans

Financing

Owner Will Carry

Assessment

per assessor

Lot Dimensions

6588

Construction

Stucco, Frame