Turnkey Six-Unit Multifamily
2101 Esplanade Avenue New Orleans, LA 70119
2101 Esplanade Avenue, New Orleans, LA, 70119
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For Sale
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Six renovated units include in-unit laundry and rear off-street parking, with five currently leased.
Property Size4,735 SF
Price / SF$266.10
Days on Market70
Property Features for 2101 Esplanade Avenue
General Information
- Standard status
- Active
- Size
- 4,735 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1900
Listing agency
NAI Rampart
Listed by
Cathy Stevens · License #LA SL704196
Source
Crexi
Added: May 14 Updated: Jul 22 at 6:51AM Checked: Jul 22 at 6:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Rampart
Investment Insights
Based on property information with market context.
This turnkey six-unit multifamily property was renovated in 2023 and is comprised of five 2BR/1BA units and one studio unit. The renovation scope includes a newer roof, newer HVAC systems, updated plumbing, newer appliances, modern fixtures, newer siding, and in-unit laundry. The main unit is currently vacant, and the building features original hardwood floors, 12-foot ceilings, and a wrap-around corner balcony overlooking Esplanade Avenue. Rear off-street parking is also available.
Five of the six units are leased, and the property previously generated approximately $11,300 per month in rental income. The building is located on Esplanade Avenue in historic Tremé, near the French Quarter, Faubourg Marigny, and City Park.
Five of the six units are leased, and the property previously generated approximately $11,300 per month in rental income. The building is located on Esplanade Avenue in historic Tremé, near the French Quarter, Faubourg Marigny, and City Park.
Key Highlights
- Six‑unit multifamily built in 1900 on iconic Esplanade Avenue in historic Tremé
- Unit mix: five 2BR/1BA units plus one studio; five units are currently leased
- Renovated in 2023 with a newer roof and newer HVAC systems
Local Financial Insights For Apartment 5plus
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 | $110.2k | $23.28 |
| − Vacancy | −$10.0k | −$2.12 |
| EGI | $100.2k | $21.16 |
| − OpEx | −$45.1k | −$9.52 |
| NOI | $55.1k | $11.64 |
4,735 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$787.3K
$688.9K – $918.5K
NOI $55,110 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,730 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six renovated units include in-unit laundry and rear off-street parking, with five currently leased.
Where is this apartment building located?
The property is located at 2101 Esplanade Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $1,260,000.
What are key features of this property?
This property features: Six‑unit multifamily built in 1900 on iconic Esplanade Avenue in historic Tremé; Unit mix: five 2BR/1BA units plus one studio; five units are currently leased; Renovated in 2023 with a newer roof and newer HVAC systems
