Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    1722 Esplanade Ave New Orleans, LA 70116

    Sponsored
    For Sale
    $1,400,000

    10-Unit Condo Conversion Opportunity

    Property size:
    7,092 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a historic 10-unit apartment building located at 1722 Esplanade Avenue in New Orleans' vibrant Treme/Lafitte neighborhood, just blocks from the French Quarter. The 7,092 square foot, three-story Class B building currently offers eight one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, and one two-bedroom/two-bathroom unit. Each unit boasts attractive features including hardwood floors, balconies, and high ceilings. The property also includes a fenced yard. Currently listed at $1,400,000 ($140,000 per unit, $197.41 per square foot), this property offers a compelling 10% capitalization rate. A comprehensive analysis suggests a significant return on investment through a condo conversion project. The estimated renovation budget is $217,762, with projected post-renovation individual condo sales totaling $2,315,000. This redevelopment opportunity allows for substantial profit potential by capitalizing on the property's prime location and the high demand for condos in this desirable area. The building's historic character and location provide a unique opportunity for a savvy investor to create a lucrative portfolio addition. Detailed financial projections and comparable sales data are available upon request.

    Property Features for 1722 Esplanade Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,092 SF
    Class
    B

    Building Details

    Stories
    3
    Units
    10

    HighLights

    • Condo conversion opportunity with significant upside potential.
    • Prime location in a thriving urban market.
    • High‑demand unit mix appealing to a broad range of renters.
    • Strong rental income potential with above‑market rents.
    • Value‑add renovation opportunities to increase NOI.
    • Excellent access to public transportation and major roadways.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.070120783974
    Latitude
    29.970328341175

    Nearby Similar for Sale

    • $2,335,000
      6,849 SF

      Renovated Six-Unit Compound

      Fully renovated six-unit compound with gated parking and MU-2 zoning.
      1201 Baronne St, New Orleans, LA 70113
      View Details
    • $599,900
      2,944 SF

      Bywater Duplex on Oversized Lot

      Classic New Orleans duplex with modern updates and strong rental potential.
      1021 Poland Ave, New Orleans, LA 70117
      View Details
    • $2,340,000
      6,069 SF

      French Quarter Income Property

      Historic French Quarter multi-family property with seven income-producing units.
      1309 Dauphine St, New Orleans, LA 70116
      View Details
    • $1,399,500
      3,367 SF

      Restored Double Gallery in New Orleans

      Historic duplex with modern updates and income potential.
      922 Melpomene St, New Orleans, LA 70130
      View Details
    • $3,270,000
      10,242 SF

      Irish Channel Oasis Portfolio

      Turnkey investment property with resort-style amenities in vibrant New Orleans.
      917-925 Washington Ave, New Orleans, LA 70130
      View Details
    • $3,270,000
      10,242 SF

      Irish Channel Oasis Portfolio

      Turnkey investment property with resort-style amenities in vibrant New Orleans.
      917-925 Washington Ave, New Orleans, LA 70130
      View Details
    • $1,350,000
      6,659 SF

      New Orleans Multifamily Investment Opportunity

      Well-maintained multifamily property near Tulane and Loyola Universities.
      2108 Broadway St, New Orleans, LA 70118
      View Details
    • $1,475,000
      3,742 SF

      Historic Creole Cottage Duplex

      Restored 1809 Creole Cottage in the French Quarter.
      1019 St Peter St, New Orleans, LA 70116
      View Details
    • $1,599,000
      3,023 SF

      Elegant Lower Garden District Duplex

      Charming New Orleans duplex with modern amenities and city views.
      1113 Thalia St, New Orleans, LA 70130
      View Details
    • $649,900
      2,233 SF

      Historic Marigny Corner Grocery Home

      Charming New Orleans home, potential duplex in walkable location.
      2632-34 Dauphine St, New Orleans, LA 70117
      View Details
    • $875,000
      4,025 SF

      Bayou St. John Triplex

      Triplex near Bayou St. John, New Orleans.
      2817 Ursulines Ave, New Orleans, LA 70119
      View Details
    • $2,500,000
      9,010 SF

      Iconic Victorian Mansion Wedding Venue

      Historic New Orleans mansion, wedding venue, and potential business venture.
      2220 Saint Charles Ave, New Orleans, LA 70130
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 10-Unit Condo Conversion Opportunity
    Where is this multifamily property located?
    The property is located at 1722 Esplanade Ave New Orleans, LA.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Condo conversion opportunity with significant upside potential.; Prime location in a thriving urban market.; High-demand unit mix appealing to a broad range of renters.
    Request Owner's contact information
    1722 Esplanade Ave New Orleans, LA 70116
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1722 Esplanade Ave
    New Orleans, LA 70116
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    1722 Esplanade Ave New Orleans, LA 70116
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.