2123 27 Carondelet Street

Description

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.