Colonial Triplex with Upper
For Sale
$595,000
6216-18 FONTAINEBLEAU Drive, New Orleans, LA 70125
Multi-Family, Colonial, New Orleans, LA
Property Size3,311 SF
Lot Size0.10 Acres
Price / SF$179.70
Days on Market153
Property Features for 6216-18 FONTAINEBLEAU Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Balcony, Fence, Porch
Fencing
Fenced
Lot features
Corner, Regular
Subdivision
FONTAINEBLEAU
Standard status
Active
APN
615210906
Size
3,311 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
BURTHEVILLE SQ 146 LOT Y FONTAINEBLEAU & CALHOUN 42X104 DUP-W 6216-18 FONTAINEBLEAU DR FILE #79137 5/99
Legal Description
BURTHEVILLE SQ 146 LOT Y FONTAINEBLEAU & CALHOUN 42X104 DUP-W 6216-18 FONTAINEBLEAU DR FILE #79137 5/99
Utilities
Heating system
Ductless (Heating), Other (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
covered front porch
upper balcony
Building Details
Year built
1940
Floors in Building
2
Number of units
3
Roof type
Shingle
Architectural style
Colonial
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Edward Breaux
(504) 319-1701
Added: Mar 25
Changed: Aug 20
Last Checked: Aug 24 at 4:06AM
MLS# 2549136
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 1940 Colonial triplex contains approximately 3,311 square feet on a 0.1003-acre corner lot. The main residence is divided into upper and lower apartments, each with 2 bedrooms, 2 full baths, large rooms, breakfast nooks, hardwood flooring, millwork, and abundant natural light. A covered front porch and upper balcony add exterior amenity space, while the rear efficiency is detached from the primary structure. The two main apartments are vacant, and the rear efficiency is occupied. The property is situated in an X flood zone and has public water service, central air, ductless and central heating, a shingle roof, fencing, and a Colonial exterior. Its Fontainebleau Drive setting provides access to the interstate, downtown, Carrollton, Uptown, and nearby universities.
Key Highlights
- Triplex with approximately 3,311 square feet on a 0.1003‑acre corner lot
- Two main apartments each offer 2 bedrooms and 2 full baths
- Total configuration includes 5 bedrooms and 5 full baths
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
$41,926
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
7.05%
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%
$838,520
$838.5K
Cap Rate 7%
$598,943
$598.9K
Cap Rate 9%
$465,844
$465.8K
Market Conditions
NOI Build-Up for 3,311 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
$65.6K $19.80/SF
− Vacancy
−$5.7K −$1.71/SF
EGI
$59.9K $18.09/SF
− OpEx
−$18.0K −$5.43/SF
NOI
$41.9K $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%
$838,520
Cap Rate 7%
$598,943
Cap Rate 9%
$465,844
Alternative Uses
Best Use
Multifamily LT 5
$598.9K
$524.1K – $698.8K
NOI $41,926 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$550.5K
$481.7K – $642.3K
NOI $38,536 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$841.5K
$736.4K – $981.8K
NOI $58,908 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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?
Triplex - Corner-lot layout includes two vacant two-bedroom apartments and a detached rear efficiency.
Where is this triplex located?
The property is located at 6216-18 FONTAINEBLEAU Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Triplex with approximately 3,311 square feet on a 0.1003‑acre corner lot; Two main apartments each offer 2 bedrooms and 2 full baths; Total configuration includes 5 bedrooms and 5 full baths
