Rented Triplex with Separate
For Sale
$229,000
16 HAWKINS Avenue, Jefferson, LA 70121
Multi-Family, Traditional, Jefferson, LA
Property Size1,202 SF
Price / SF$190.52
Days on Market184
Property Features for 16 HAWKINS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Corner
Standard status
Active
Size
1,202 SF
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Jennifer Blanchard · License #000076636
(504) 345-1000
Added: Mar 5
Changed: Aug 19
Last Checked: Sep 5 at 11:06PM
MLS# 2545874
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 1,202-square-foot triplex, built in 1960, combines two one-bedroom, one-bath apartments with a separate efficiency unit. The property is fully rented, and each unit has its own water and electric meter, with residents responsible for their individual utilities. Units A and B have central air and heat, while the efficiency unit uses a window air-conditioning unit.
Positioned on a corner lot in Jefferson, the property includes a porch, driveway parking, public water service, and a shingle roof. The location is near Elmwood Shopping Center, the Huey P. Long Bridge, hospitals, and restaurants.
Positioned on a corner lot in Jefferson, the property includes a porch, driveway parking, public water service, and a shingle roof. The location is near Elmwood Shopping Center, the Huey P. Long Bridge, hospitals, and restaurants.
Key Highlights
- 1,202‑square‑foot triplex with two 1BD/1BA units plus a separate efficiency unit
- Fully rented with separate water and electric meters for every unit
- Tenants pay their own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,220
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$304,400
$304.4K
Cap Rate 7%
$217,429
$217.4K
Cap Rate 9%
$169,111
$169.1K
Market Conditions
NOI Build-Up for 1,202 SF
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.
Gross rent
$23.8K $19.80/SF
− Vacancy
−$2.1K −$1.71/SF
EGI
$21.7K $18.09/SF
− OpEx
−$6.5K −$5.43/SF
NOI
$15.2K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$304,400
Cap Rate 7%
$217,429
Cap Rate 9%
$169,111
Alternative Uses
Best Use
Multifamily LT 5
$217.4K
$190.3K – $253.7K
NOI $15,220 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$199.9K
$174.9K – $233.2K
NOI $13,990 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$305.5K
$267.3K – $356.4K
NOI $21,386 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 70121, LA
11,523
Population
6,415
Households
1.8
Avg Household Size
46
Median Age
36%
College-Educated
88%
High-School Grad
3.3 sq mi
ZIP Area
3,492
Density / Sq Mi
$59,029
Median Household Income
$40,151
Median Earnings
$1,113
Median Rent
$237,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two one-bedroom apartments and an efficiency unit create a three-unit residential configuration.
Where is this triplex located?
The property is located at 16 HAWKINS Avenue Jefferson, LA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 1,202‑square‑foot triplex with two 1BD/1BA units plus a separate efficiency unit; Fully rented with separate water and electric meters for every unit; Tenants pay their own utilities
