2123 27 Carondelet Street
New Orleans, LA 70130
- 16 beds
- 14 baths
- 7,511 sqft
- $186 per sqft
- 1920 build
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.
Last checked:
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Last updated Apr 8, 2025
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MLS# 2495628 —
The Building
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Year Built:1920
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Construction Materials:Frame, Stucco
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Architectural Style:Other
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Building Area Source:Assessor
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Roof:Shingle
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Foundation:Raised
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Levels:Three Or More
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Stories:3
Interior
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Living Area:7511
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Living Area Source:Assessor
Location
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Cross Street:St Charles Ave & Jackson Ave
The Property
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Parcel Number:per assessor
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Property Type:Residential Income
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Property Subtype:Apartment
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Property Subtype Additional:Apartment
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Property Condition:Average Condition
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Lot Features:City Lot, Rectangular Lot
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Lot Size Dimensions:6588
Listing Agent
- Contact info:
- Agent phone:
- (504) 901-0463
- Office phone:
- (504) 901-0463
Beds
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Bedrooms Total:16
Baths
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Full Baths:14
The Listing
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Current Price:$1,400,000
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Special Listing Conditions:None
Heating & Cooling
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Heating:Window Unit
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Heating:Yes
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Cooling:Window Unit(s)
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Cooling:Yes
Utilities
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Sewer:Public Sewer
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Water Source:Public
Parking
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Parking Features:None
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/8/25
Apr 8, 2025
|
Listed / Active | GSREIN | $1,400,000 |
