Duplex with Leased Upper
For Sale
$300,000
1516 GENTILLY Boulevard, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
Property Size1,904 SF
Lot Size0.07 Acres
Price / SF$157.56
Days on Market66
Property Features for 1516 GENTILLY Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Fence, Porch Screened In
Fencing
Fenced
Lot features
Regular
Subdivision
Fairgrounds
Standard status
Active
APN
37W300802
Size
1,904 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
SQ 1530 LOT Q GENTILLY BD 38 OVER 34 X 79 OVER 95
Legal Description
SQ 1530 LOT Q GENTILLY BD 38 OVER 34 X 79 OVER 95
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1946
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Cottage
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Louis Williams · License #73679
(985) 727-7000
Added: May 28
Changed: Jul 11
Last Checked: Aug 1 at 11:06AM
MLS# 2560296
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex provides two dedicated residential units with a total of 4 bedrooms and 3 bathrooms and approximately 1,904 square feet of flexible income-producing space. The downstairs unit features 3 bedrooms and 2 full baths, with a large living room flowing into the dining area. The kitchen includes solid wood cabinetry and the main level also includes a convenient laundry area.
The upstairs flat functions as a private 1-bedroom, 1-bath apartment with its own rear entrance. A separate exterior staircase provides access to the upper unit, which is currently leased. The upper layout is described as studio-style, with its own kitchen, living and sleeping area, and a full bath featuring a clawfoot tub.
Outside, the property includes a fenced yard and a screened front porch that provide shared outdoor space for both units.
The upstairs flat functions as a private 1-bedroom, 1-bath apartment with its own rear entrance. A separate exterior staircase provides access to the upper unit, which is currently leased. The upper layout is described as studio-style, with its own kitchen, living and sleeping area, and a full bath featuring a clawfoot tub.
Outside, the property includes a fenced yard and a screened front porch that provide shared outdoor space for both units.
Key Highlights
- Two dedicated units with 4 total bedrooms and 3 total baths in 1,904 SF of flexible income‑producing space
- Upstairs 1‑bedroom, 1‑bath flat has its own rear entrance and is leased for $1,100/month
- Downstairs unit features 3 bedrooms and 2 full baths with a large living room, dining space, and kitchen with solid wood cabinetry
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.7k | $19.80 |
| − Vacancy | −$3.3k | −$1.71 |
| EGI | $34.4k | $18.09 |
| − OpEx | −$10.3k | −$5.43 |
| NOI | $24.1k | $12.66 |
1,904 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$344.4K
$301.4K – $401.8K
NOI $24,109 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$316.6K
$277.0K – $369.3K
NOI $22,160 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$498.2K
$435.9K – $581.3K
NOI $34,875 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,277
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex offers a leased upstairs 1-bedroom unit and a 3-bedroom, 2-bath main-level residence with a total of 1,904 sq. ft.
Where is this duplex located?
The property is located at 1516 GENTILLY Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two dedicated units with 4 total bedrooms and 3 total baths in 1,904 SF of flexible income‑producing space; Upstairs 1‑bedroom, 1‑bath flat has its own rear entrance and is leased for $1,100/month; Downstairs unit features 3 bedrooms and 2 full baths with a large living room, dining space, and kitchen with solid wood cabinetry
