University Area
1620 BROADWAY Street New Orleans, LA 70118
1620 BROADWAY Street, New Orleans, LA, 70118
$575,000
For Sale
$575,000
MULTI_FAMILY - New Orleans, LA
Property Size3,311 SF
Lot Size0.12 Acres
Price / SF$173.66
Days on Market8
Property Features for 1620 BROADWAY Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Carport
- Patio and Porch features
- Porch
- Exterior features
- Fence, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 615310011
- Size
- 3,311 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- As Per Title
Utilities
- Heating system
- Central
- Cooling system
- Window Unit(s), Central Air
- Water source
- Public
Building Details
- Year built
- 1926
- Floors in Building
- 2
- Number of units
- 3
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
REVE, REALTORS
(504) 300-0700
4827 Prytania St, New Orleans, LA
Listed by
Joey Walker · License #995699523
(504) 300-0700
Added: Jul 10 Checked: Jul 17 at 9:06 am
MLS# 2567108
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.
Investment Insights
Based on property information with market context.
1620 Broadway St. presents a well-maintained triplex that has been cared for by the same owners for the past 29 years. The upper level includes more than 1,700 square feet with a front porch, an open living and dining layout flowing into the kitchen, four bedrooms, two bathrooms, in-unit laundry, and direct access to the backyard and off-street parking.
The ground level features two generously sized one-bedroom, two-bath apartments, along with a separate shared laundry room. The property is situated on an oversized 45' x 120' lot with a long driveway, carport, and ample off-street parking. Additional noted improvements include a new roof scheduled for 2026 and numerous updates made over the years.
The ground level features two generously sized one-bedroom, two-bath apartments, along with a separate shared laundry room. The property is situated on an oversized 45' x 120' lot with a long driveway, carport, and ample off-street parking. Additional noted improvements include a new roof scheduled for 2026 and numerous updates made over the years.
Key Highlights
- Triplex on an oversized 45' x 120' lot with long driveway, carport, and ample off‑street parking
- Upper unit features 4 bedrooms, 2 bathrooms, in‑unit laundry, and direct backyard access
- Upper unit includes an open living/dining layout, kitchen, and front porch
Local 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 | $65.6k | $19.80 |
| − Vacancy | −$5.7k | −$1.71 |
| EGI | $59.9k | $18.09 |
| − OpEx | −$18.0k | −$5.43 |
| NOI | $41.9k | $12.66 |
3,311 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$550.5K
$481.7K – $642.3K
NOI $38,536 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$841.5K
$736.4K – $981.8K
NOI $58,908 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained triplex with a spacious upper 4-bedroom unit plus two 1-bedroom, 2-bath apartments and shared laundry.
Where is this triplex located?
The property is located at 1620 BROADWAY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Triplex on an oversized 45' x 120' lot with long driveway, carport, and ample off‑street parking; Upper unit features 4 bedrooms, 2 bathrooms, in‑unit laundry, and direct backyard access; Upper unit includes an open living/dining layout, kitchen, and front porch
