14
See all 14 photos
$776,268
Est. payment /mo
2 Beds
2 Baths
1,265 SqFt
Price Dropped by $68K
1111 Tulane Avenue #721 New Orleans, LA 70112
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Key Details
Property Type Single Family Home, Condo
Sub Type Attached Single Family,Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 1,265 sqft
Price per Sqft $613
MLS Listing ID NO2466708
Style Other
Bedrooms 2
Full Baths 2
HOA Fees $810/mo
Year Built 1950
Property Sub-Type Attached Single Family,Condominium
Property Description
High-Yield Investment Property in Downtown New Orleans This 1,200 sq. ft. corner unit in a prime downtown location has generated $45k YTD in 2024, with a signed contract for a 30+ day stay during the Super Bowl for the production crew. Revenue from this contract will cover the annual expenses for the unit, allowing positive cash flow from February onwards. Unit Features: Layout: Spacious corner unit with two king suites, each featuring en-suite baths, walk-in closets, and luxury hotel-style bedding. Views: Expansive windows offer city views from every room, including the historic Roosevelt Hotel and the Superdome. Living Space: Modern design with high ceilings, a fully-equipped kitchen, and a large living room perfect for relaxing or entertaining. Amenities: Access to a shared rooftop terrace, fitness center, game room, and media room with Dolby surround sound, a 100" projector screen, and a full wet bar. Location: Proximity: Walking distance to the French Quarter, Superdome, Canal Street, Bourbon Street, and key city attractions like the Saenger Theatre, Convention Center, and WWII Museum. Transportation: Convenient access to public transit and rideshare services, with parking available on a first-come, first-served basis in the building's garage. Investment Highlights: High Occupancy: Consistently high occupancy rate in 2024, with $75k YTD revenue. Super Bowl Contract: A signed 30+ day stay during the Super Bowl production crew, covering annual expenses and allowing positive cash flow starting in February. Zero Management Required: The building handles all common areas, and a professional management company takes care of bookings, housekeeping, and maintenance for a 10% fee. Ideal for Absentee Owners: Turnkey Investment: No management needed for this fully serviced unit. Furnishing: Willing to sell fully furnished, with a few vintage items negotiable. This property offers a rare opportunity for out-of-state investors looking for a high-performing, low-maintenance unit in one of New Orleans' most desirable locations.
Location
State LA
Interior
Interior Features Ceiling Fan(s), Bathroom 1, Bathroom 2, Bedroom 1, Dining Room, Entrance Foyer, Kitchen, Living Room
Heating Central
Cooling Central Air
Fireplace false
Appliance Dishwasher, Dryer, Microwave, Refrigerator, Washer
Exterior
Parking Features None
Community Features Elevator
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories 1
Listed by Realty One Group Immobilia