Historic 5-Unit Apartment
For Sale
$1,700,000
2007-11 ESPLANADE Avenue, New Orleans, LA 70116
Multifamily, New Orleans, LA
Property Size7,700 SF
Lot Size0.24 Acres
Price / SF$220.78
Days on Market23
Property Features for 2007-11 ESPLANADE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bathroom 4, Bathroom 6, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 3, Bathroom 5
Parking
2
Patio and Porch features
Porch
Lot features
Corner Lot
Directions
Heading NE on Broad St, Turn right on Esplanade Ave, Make a U turn at N Prieur
Standard status
Active
APN
37W201701
Size
7,700 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
. SQ 1041 LOT PT 1 ESPLANADE 2. AND N JOHNSON 80 X 133; 2011 ESPLANADE AV;, APTS. ABCD 3. 2/STORY 5/APTS 25/RM &C/PORT; 2007 ESPLANADE AVE
Legal Description
. SQ 1041 LOT PT 1 ESPLANADE 2. AND N JOHNSON 80 X 133; 2011 ESPLANADE AV;, APTS. ABCD 3. 2/STORY 5/APTS 25/RM &C/PORT; 2007 ESPLANADE AVE
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1883
Number of units
5
Architectural style
Colonial
Buildings
1
Listing Agency:
Berkshire Hathaway HS - Garden District/Uptown · Berkshire Hathaway HomeServices
(504) 799-1702
Listed By:
Jessica M Bordelon · License #995699315
(504) 535-4353
Added: Oct 1
Changed: Oct 23
Last Checked: Oct 23 at 3:06PM
MLS# 2579814
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 7,700-square-foot residential property occupies a 0.24-acre corner lot on Esplanade Avenue in New Orleans. Built in 1883, it retains original millwork, a marble-floored foyer, mahogany detailing, double parlors, and upper and lower galleries. The existing arrangement comprises five units, including an owner's residence and four additional units, with an octagonal wing containing a separate suite. The floor plan can also be configured as a single-family residence.
The property has central heating and central air conditioning, a porch, natural gas availability, public water, and public sewer. Its address is 2007-11 Esplanade Avenue, New Orleans, LA 70116.
The property has central heating and central air conditioning, a porch, natural gas availability, public water, and public sewer. Its address is 2007-11 Esplanade Avenue, New Orleans, LA 70116.
Key Highlights
- 7,700‑square‑foot building on a 0.24‑acre corner lot
- Five‑unit layout includes an owner's residence and four additional units
- Built in 1883 with original millwork, mahogany detailing, and a marble‑floored foyer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,619
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,792,380
$1.8M
Cap Rate 7%
$1,280,271
$1.3M
Cap Rate 9%
$995,767
$995.8K
Market Conditions
NOI Build-Up for 7,700 SF
Gross rent
$179.3K $23.28/SF
− Vacancy
−$16.3K −$2.12/SF
EGI
$162.9K $21.16/SF
− OpEx
−$73.3K −$9.52/SF
NOI
$89.6K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,792,380
Cap Rate 7%
$1,280,271
Cap Rate 9%
$995,767
Alternative Uses
Best Use
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,619 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,996 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Original millwork, galleries, and a flexible layout support multifamily occupancy or conversion to a single residence.
Where is this apartment building located?
The property is located at 2007-11 ESPLANADE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 7,700‑square‑foot building on a 0.24‑acre corner lot; Five‑unit layout includes an owner's residence and four additional units; Built in 1883 with original millwork, mahogany detailing, and a marble‑floored foyer
