$1,375,000
$25K PRICE DROP

2123 27 Carondelet St New Orleans, LA 70115

Central City Neighborhood

Estimated payment $8,607/month

Total Views 5,412
16 Beds
14 Baths
7,511 Sq Ft
$183 Price per Sq Ft

About This Home

Value add multifamily in Excellent location. 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 Agent

Mason McCullough

Bridgewater Realty Advisors, LLC License #NOM:995714063 Listed on: 04/08/2025

Co-Listing Agent

BRYCE DANNA-MARULLO

Bridgewater Realty Advisors, LLC License #NOM:995705186

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1920

Home Design

  • Raised Foundation
  • Frame Construction
  • Shingle Roof
  • Stucco Exterior

Interior Spaces

  • 7,511 Sq Ft Home
  • Property has 3 Levels

Utilities

  • Window Unit Cooling System
  • Window Unit Heating System
  • Internet Available

Additional Features

  • Property is in average condition
  • Outside City Limits

Community Details

  • 14 Units

Listing and Financial Details

  • Assessor Parcel Number per assessor

Property Details

Home Type

Apartment

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Dwelling Type: Apartment Complex
  • Style: Other
  • Condition: Avg
  • ADA Features: No
  • Lp Amt Sq Ft: 183.06
  • Building Stories: 3.00000
  • Unit Level: 3
  • AddressLine: 2123 CARONDELET Street, New Orleans LA 70130
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Estimated Living Area: 7511
  • Total Sq Ft: 7511

Exterior Features

  • Exterior: Frame, Stucco
  • Foundation: Raised
  • Roof Type: Shingle

Garage/Parking

  • Car Storage: None
  • Internet: Yes

Utilities

  • Air Conditioner: Window Unit
  • Electricity Provided By: Entergy
  • Gas Type: Natural
  • Heating: Window Unit
  • Sewer Type: City
  • Water Type: Public

Association/Amenities

  • Termite Contract: No

Lot Info

  • Elevation Certificate: No
  • Lot Description: Regular
  • Lot Size: 6588
  • Parcel #: per assessor

Green Features

  • Green Building Cert Attached Y N: No

Rental Info

  • Lease Purchase Poss: No

Building Info

  • Year Built: 1920

Multi Family

  • Total Units: 14

Map

Range of Values:

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Value Increase
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/05/2025 08/05/25 Price Changed $1,375,000 -1.8% $183 / Sq Ft
04/08/2025 04/08/25 For Sale $1,400,000 -- $186 / Sq Ft
Source: Gulf South Real Estate Information Network

Source: Gulf South Real Estate Information Network

MLS Number: 2495628

Gulf South Real Estate Information Network

APN: 412106618

Louisiana Orleans Parish New Orleans 70113 Central City

2123 27 Carondelet St, New Orleans, LA

For Sale

MultiFamily

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Listing Agent
Mason McCullough
Section Image
Bridgewater Realty Advisors, LLC
(504) 395-8362