214-545-6917
703 Carondelet St, New Orleans, LA for Sale
Apartments - FOR SALE
1/18
null | Request Cap Rate

703 Carondelet St
New Orleans, LA 70130
Warehouse District


HIGHLIGHTS

  • Rare Mid-Sized Asset in the CBD: Moss Bauer fills a unique gap in the market, with 28 residential units and two retail suites.
  • Value-Add Opportunity with Minimal Capex: With current occupancy at 77%, the property offers immediate upside through lease-up
  • Prime Location in Employment & Entertainment Hub: Strategically located within the New Orleans Central Business District
  • Efficient Scale with Professional Management Viability
  • Historic Building with Modern Interiors: Originally constructed in 1900 and fully renovated in 2013
  • Retail Income for Diversified Revenue Stream: Two ground-floor retail suites offer additional income potential and flexibility.

OVERVIEW

Moss Bauer (the “Property”) is a 28-unit multifamily property with 2 retail suites, prominently located at 703 Carondelet Street in the vibrant Central Business District (CBD) of New Orleans, Louisiana. Originally built in 1900 with brick construction, the Property underwent a substantial renovation in 2013 that preserved its historic character while upgrading the interiors to modern standards. The Property consists of two distinct buildings: a five-story structure serviced by an elevator and a two-story walk-up. The residential units feature hardwood flooring, in-unit washers and dryers, stainless steel appliances, and modern cabinetry—delivering a high-quality living experience that appeals to urban professionals and long-term renters. Currently 77% occupied, with rents below market comparables the asset presents an immediate lease-up opportunity with minimal capital expenditure required, making it a compelling value-add investment. Situated within the economic core of New Orleans, Moss Bauer benefits from unmatched proximity to over 15.5 million square feet of Class A and B office space within a half-mile, positioning the asset as a preferred choice for renters seeking walkable access to employment centers. In addition to its employment-driven demand base, the Property is within walking distance of New Orleans’ most iconic destinations, including the Caesars Superdome (0.7 miles), Canal Street (0.5 miles), Bourbon Street (1.0 mile), and U.S. Highway 90 (0.7 miles). The St. Charles streetcar line also passes just one block away, offering direct access to Uptown, the Garden District, and Tulane University (4.0 miles). Additionally, the property is 0.7 miles from the Tulane University Health Science Center, 2.1 miles from LSU Health Center Downtown, and 3.5 miles from Xavier University. This connectivity, combined with a walkable urban setting, positions Moss Bauer at the crossroads of business, entertainment, and culture.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

28

CAP RATE

Request Cap Rate

% LEASED

77%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

CBD-1

APN/PARCEL ID

1-03-1-046-21

ASK ABOUT THIS PROPERTY

Mart MartindaleEDGE Capital MarketsMore Info
214-545-6917

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Mart MartindaleEDGE Capital MarketsMore Info
214-545-6917

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.