2703-2705 PALMER Avenue, New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
- Added:
- Jun 12, 2026
- Days on Market:
- 16
- Last Refresh:
- Jun 27 at 1:06 pm
Property Features for 2703-2705 PALMER Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street, Driveway
- Exterior features
- Fence
- Fencing
- Fenced
- Standard status
- Active
- APN
- 615208605
- Size
- 3,191 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Description
- BURTHEVILLE SQ 122 LOT C 48X118/123 2703-05 PALMER DU-W FILE #92085 2/07 FILE #92085 2/07
Utilities
- Heating system
- Central
- Cooling system
- Central Air, Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1950
- Floors in Building
- 1
- Number of units
- 3
- Roof type
- Metal, Shingle
- Architectural style
- Craftsman
Listing agent Katherine Bosio (504) 300-0700
Listing office REVE, REALTORS 4827 Prytania St, New Orleans, LA (504) 300-0700
Listing date Jun 12, 2026
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
- Converted double with three living spaces, including Unit 2703 and the 2705 side with two separate 1‑bedroom apartments
- Unit 2703 offers 5 independent bedrooms, two living areas, hardwood floors, and in‑unit laundry
- 2705 includes one 1‑bedroom apartment at the front and one at the rear, with shared laundry
- Recent updates include replaced water heaters and a balcony addition completed in 2024, plus freshly painted interior walls
- Dual driveways with off‑street parking, plus a large backyard and fenced yard
- Built in 1950 with central heating; central air and window units; roof includes shingle/metal and a roof reported as 6 years old
Overview
The property sits on an oak-lined street in New Orleans, near Tulane and Loyola Universities. It offers off-street parking with dual driveways and includes a large backyard.
For buyers and operators, the combination of five-bedroom shared-living space in Unit 2703 and two separate one-bedroom apartments on the 2705 side can support multiple tenant arrangements within one building. The recently vacated condition and the stated upgrades to key systems and finishes may help reduce near-term turn scope for new occupants.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.2k | $19.80 |
| − Vacancy | −$5.5k | −$1.71 |
| EGI | $57.7k | $18.09 |
| − OpEx | −$17.3k | −$5.43 |
| NOI | $40.4k | $12.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.114526
- Latitude
- 29.942313
