$1,400,000
1722 ESPLANADE AVE New Orleans, LA 70116
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
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$1,400,000
Est. payment /mo
7,092 SqFt
UPDATED:
09/30/2024 05:36 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,092 sqft
Price per Sqft $197
MLS Listing ID 2463977
HOA Y/N No
Year Built 1900
Property Description
1722 Esplanade Avenue is a 10-unit historic building on the famous Esplanade Avenue in the vibrant Treme/Lafitte neighborhood, just blocks away from the French Quarter. This property is ready for a developer to bring it back to its full potential and create a large profit in doing so. The building contains ten (10) units with eight (8) 1 bedroom 1 bathroom units, one (1) 2 bedroom 1 bathroom unit, and one (1) 2 bedroom 2 bathroom unit. The units feature beautiful hardwood flooring, balconies, a fenced yard, and high ceilings. The highest and best use of this property is for a purchaser to buy the building and complete the necessary renovations ($217,762) to bring back to commerce. A condo conversion will then be completed and each condo sold off separately for a total of $2,315,000. With the low cost basis and renovation budget, this will allow for a decent size profit for the developer of the project.
Location
State LA
County Orleans
Zoning HU-RD1
Interior
Fireplace No
Exterior
Garage None
Water Access Desc Public
Building
Lot Description City Lot, Rectangular Lot
Dwelling Type Mixed Use
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Others
Tax ID 208105508
Special Listing Condition None
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Listed by Bridgewater Realty Advisors, LLC
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