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    Garden District Queen Anne Mansion Title is generated by Realmo AI

    2503 ST CHARLES Avenue, New Orleans, LA 70130

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    Claim this Listing
    New
    For Sale
    $2,599,000

    MULTI_FAMILY - New Orleans, LA

    Property size:
    7,757 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $335/SF
    Added:
    May 19, 2026
    Days on Market:
    3
    Last Refresh:
    May 21 at 1:06 pm

    Property Features for 2503 ST CHARLES Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Garage, Off Street
    Patio and Porch features
    Patio, Porch
    Exterior features
    Balcony, Courtyard, Driveway Permeable Surface, Fence, Outdoor Entertainment Area Beyond Your Average Patio, Porch Screened In
    Fencing
    Fenced
    Standard status
    Active
    APN
    2501-STCHARLESAV
    Size
    7,757 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Description
    SQ 232 LOT A OR 7 ST CHARLES & SECOND 63X125 FILE #10422 BP020000257 5/25/04 2005 H.E. RETURNED

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1980
    Floors in Building
    3
    Number of units
    3
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Brittany Picolo

    Listing agent Brittany Picolo

    Listing office Keller Williams Realty New Orleans 8601 Leake Ave., New Orleans, LA

    Listing date May 19, 2026

    MLS# 2558699 Listing URL

    Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Historic 1880 Queen Anne Italianate mansion in the Garden District, designed by Thomas Sully.
    • Income‑producing potential with a third‑floor apartment and carriage house, plus potential for hotel licensing due to HU‑RM1 zoning.
    • Gourmet kitchen with high‑end appliances (Wolf, Sub‑Zero) and updated bathrooms.
    • Significant recent upgrades: new roof (2024) and newer HVAC systems.
    • Spacious layout with approximately 7,757 sq ft, 10 bedrooms, and 9.5 baths, featuring original historic details.
    • Rare 4‑car garage and additional off‑street parking in a coveted location overlooking St. Charles Avenue.

    Overview

    This 1880 Queen Anne Italianate mansion, designed by Thomas Sully, is located in the Garden District of New Orleans. The property offers approximately 7,757 square feet of living space, featuring 10 bedrooms and 9.5 baths. Architectural details include original inlaid floors, a grand staircase, 14-foot ceilings, ornate moldings, original fireplaces, and other historic elements. The home blends historic elegance with modern convenience, featuring an updated gourmet kitchen with marble finishes, Wolf appliances, and Sub-Zero refrigeration, along with renovated bathrooms. Recent upgrades include a new roof installed in 2024 and newer HVAC systems. The property includes a third-floor apartment and a carriage house with full amenities, suitable for guests, extended stays, or income generation. Outdoor features include a private courtyard, balconies overlooking St. Charles streetcar route and live oak-lined avenue, a 4-car garage, and additional off-street parking. The property is zoned HU-RM1 (Historic Urban Multi-Family Residential District) and offers investment potential, including the possibility of hotel licensing. The lot size is 0.181 acres.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.083844
    Latitude
    29.932425

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    FAQs

    What type of property is this?
    Multifamily property - Historic New Orleans mansion with income potential and modern amenities.
    Where is this multifamily property located?
    The property is located at 2503 ST CHARLES Avenue New Orleans, LA.
    What is the asking price?
    The asking price for this property is $2,599,000.
    What are key features of this property?
    This property features: Historic 1880 Queen Anne Italianate mansion in the Garden District, designed by Thomas Sully.; Income‑producing potential with a third‑floor apartment and carriage house, plus potential for hotel licensing due to HU‑RM1 zoning.; Gourmet kitchen with high‑end appliances (Wolf, Sub‑Zero) and updated bathrooms.
    (504) 862-0100
    We can help!
    Listing Contact
    Brittany Picolo
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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