1111 Tulane Ave Unit 704, New Orleans, LA 70112
- $199,500
- 1
- BA
- 515
- SqFt
- List Price
- $199,500
- Price Change
- ▼ $16,400 1789787416
- MLS#
- 2534965
- Status
- ACTIVE
- Type
- Condo
- Style
- Mid-Century Modern
- Stories
- 1
- Bathrooms
- 1
- Acres
- 0.56
- Living Area
- 515
- Parish
- Orleans
Property Description
Turnkey downtown studio located in one of the few remaining buildings with a grandfathered short-term rental (STR) license in New Orleans. The California Building has officially earned Airbnb Superhost status, providing another advantage for visibility and guest confidence in New Orleans’ competitive short-term rental market. This fully furnished 1-bath unit is designed to sleep four (queen bed + sleeper sofa) and features an open-concept layout with Bosch appliances, custom cabinetry, and modern finishes. A defined sleeping area is incorporated within the main living space for efficient use and guest comfort. Ownership is fully hands-off, with onsite management by EM Management handling bookings, guest communication, cleaning, and maintenance - offering a streamlined experience for investors or second-home owners. Management fees were reduced from 20% to 15% following the management transition in late 2025. Parking included - a rare and highly valuable feature in the CBD. Residents and guests enjoy access to a fitness center, rooftop terrace, business and media rooms, and additional amenities. Planned common-area upgrades include a lobby-level café, bar, and lounge seating designed to further enhance the guest experience. Located in the Central Business District, just blocks from the French Quarter, Caesars Superdome, Smoothie King Center, and major medical centers. 2025 total revenue was $21,159 between the condo and parking, with rental revenue through July 2026 up approximately 11% compared with the same period in 2025. Management fees have also been reduced from 20% to 15%. Detailed rental history, P&L, and updated financials available upon request. Per HOA guidance, the planned common-area improvements are not expected to increase monthly dues. A compelling opportunity to own a compliant STR asset in a highly restricted market, offering flexibility for personal use and income potential.
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Additional Information
- Roof
- Asphalt, Flat
- Sewer
- Public Sewer
- Water
- Public
- Appliances
- Cooktop, Dryer, Dishwasher, Ice Maker, Microwave, Oven, Range, Refrigerator, Washer
- Heating
- Central
- Cooling
- Central Air
Mortgage Calculator
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