2703-2705 PALMER Avenue, New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
- Added:
- Jun 12, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 12 at 1:06 pm
Property Features for 2703-2705 PALMER Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Driveway, Off Street
- 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
- Shingle, Metal
- 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 flexible living spaces and multiple unit configurations for shared living or separate rentals
- Unit 2703 has five independent bedrooms, two living areas, hardwood floors, and in‑unit laundry
- Unit 2705 side includes two separate 1‑bedroom apartments (front and rear) with shared laundry
- Dual driveways plus off‑street parking, fenced yard, and balcony addition completed in 2024
- Central heating and Central Air, with additional window unit(s) for cooling; public water source
- Craftsman style home built in 1950 with a shingle and metal roof; 6‑year‑old roof and replaced water heaters
Overview
Set on a lovely oak-lined street in New Orleans’ Uptown area near Tulane and Loyola Universities, the property offers off-street parking, dual driveways, and a large backyard. The home was recently vacated, allowing for an easier transition for a new owner or operator.
Recent improvements include replaced water heaters, freshly painted interior walls, a balcony addition completed in 2024, and a roof that is about six years old. The unit mix can appeal to tenants looking for multiple bedrooms within one unit, as well as those who prefer standalone one-bedroom setups. Overall, the configuration, laundry options, and upgrades support practical day-to-day operability for an owner or investor seeking a multi-unit residential property.
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
