1722 Esplanade Avenue

Description

1722 Esplanade Avenue is a 10-unit historic building on the famous Esplanade Avenue in the vibrant Treme/Lafitte neighborhood, just blocks away from the French Quarter. This property is ready for a developer to bring it back to its full potential and create a large profit in doing so. The building contains ten (10) units with eight (8) 1 bedroom 1 bathroom units, one (1) 2 bedroom 1 bathroom unit, and one (1) 2 bedroom 2 bathroom unit. The units feature beautiful hardwood flooring, balconies, a fenced yard, and high ceilings. The highest and best use of this property is for a purchaser to buy the building and complete the necessary renovations ($217,762) to bring back to commerce. A condo conversion will then be completed and each condo sold off separately for a total of $2,315,000. With the low cost basis and renovation budget, this will allow for a decent size profit for the developer of the project.