Fairgrounds Investment
1516 GENTILLY Boulevard, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
Property size:
1,904 SFLot size:
0.07 AcresPrice / SF:
$157/SF- Added:
- Nov 26, 2025
- Days on Market:
- 181
- Last Refresh:
- May 26 at 5:06 pm
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
- 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
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 agent Louis Williams License #73679 (985) 727-7000
Listing office Keller Williams Realty Services 1522 W. Causeway Approach, Mandeville, LA (985) 727-7000
Listing date Nov 26, 2025
MLS# 2532295
Listing URL
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.
HighLights
- Prime location near Fairgrounds, Bayou St. John, City Park, restaurants, and markets.
- Two separate units provide built‑in income potential; downstairs unit (3 bed/2 bath) and upstairs apartment (1 bed/1 bath) currently leased for $1,100/month.
- Flexible layout suitable for owner‑occupancy with rental income, long‑term tenants, or short‑term rentals.
- Downstairs unit features original wood floors, tall ceilings, natural light, and a convenient laundry area.
- Upstairs unit has a private entrance, studio‑style layout, kitchen, and a full bath with a clawfoot tub.
- Fenced yard and screened front porch offer enjoyable outdoor space and neighborhood charm.
Overview
This Fairgrounds investment opportunity features two units, offering a total of 4 bedrooms and 3 baths within 1,904 square feet. The downstairs unit includes 3 bedrooms and 2 full baths, while the upstairs flat is a private 1 bedroom, 1 bath apartment with a separate rear entrance, currently leased for $1,100 per month. The main level blends classic New Orleans character with comfortable living, showcasing original wood floors, tall ceilings, and natural light in a large living room that flows into the dining space. The kitchen features solid wood cabinetry. Three bedrooms make the downstairs unit ideal for long-term tenants, short-term uses, or an owner-occupant setup. Two full baths and a convenient laundry area complete the main level. The upper unit, accessible via a separate exterior staircase, is a bright studio-style apartment with its own kitchen, living and sleeping area, and a full bath with a clawfoot tub. The property includes a fenced yard and a screened front porch. Located near the Fairgrounds, Bayou St. John, City Park, coffee shops, restaurants, and local markets, this property is situated on a lot of 0.0719 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$267.9K
NOI $24,109 @ 9.00% cap · cautious / downside scenario
Moderate
$344.4K
NOI $24,109 @ 7.00% cap · market / base-case scenario
Aggressive
$482.2K
NOI $24,109 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| 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 Use Scenarios
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.077578
- Latitude
- 29.978849
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two-unit property near Fairgrounds with income potential.
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: Prime location near Fairgrounds, Bayou St. John, City Park, restaurants, and markets.; Two separate units provide built‑in income potential; downstairs unit (3 bed/2 bath) and upstairs apartment (1 bed/1 bath) currently leased for $1,100/month.; Flexible layout suitable for owner‑occupancy with rental income, long‑term tenants, or short‑term rentals.
