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    828 N Gayoso St New Orleans, LA 70119

    Sponsored
    For Sale
    $760,000

    Apartment Complex, Shot Gun - New Orleans, LA

    Property size:
    2,703 SF
    Lot size:
    0.09 Acres
    Days on Market:
    21
    Last Refresh:
    Feb 8 at 9:06 am

    Property Features for 828 N Gayoso St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Laundry
    Patio and Porch features
    Porch
    EntryLevel
    1
    Exterior features
    Fence, Porch
    Fencing
    Fenced
    Size
    2,703 SF
    Lot size
    0.09 Acres

    Utilities

    Cooling system
    Window Unit(s)

    Building Details

    Floors in Building
    2
    Number of units
    6
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Gabriella Francescon
    Gabriella Francescon

    Century 21 J. Carter & Company (504) 810-2825

    Listing agent Gabriella Francescon (504) 810-2825

    Listing date Jan 19, 2026

    MLS# 2538074 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.

    Learn more

    Property Insight Report

    Overview

    Renovated 6-Plex in Bayou St.

    This renovated multi-family property features three separate duplex buildings, totaling six units. The property includes two front duplexes with one-bedroom, one-bath units, and a rear duplex with two-bedroom, one-bath units. Each unit has been completely renovated inside and out, preserving original historic details where possible. All six units are rent-ready and in high demand. Improvements include new stainless steel appliances throughout, washer/dryer hookups, and dedicated storage for each building. Four units feature new cabinetry and stone countertops, while two units showcase restored vintage cabinets. Three units retain restored ceramic farmhouse sinks, complemented by deep stainless steel sinks in the remaining units. Updated systems provide modern comfort and efficiency, while preserved architectural elements maintain authentic New Orleans charm. The property is situated in an X flood zone on a 0.0926-acre lot. Attractive shared grounds enhance tenant appeal and livability. The property is located five blocks from Bayou St. John and mere blocks to the Lafitte Greenway, Whole Foods Market, restaurants, and neighborhood bars. This turnkey, income-producing property blends historic character with modern upgrades in one of New Orleans’ most sought-after neighborhoods. The property size is 2703 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0848712
    Latitude
    29.9738657

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    FAQs

    What type of property is this?
    Apartment building - Fully renovated 6-unit property near Bayou St. John.
    Where is this apartment building located?
    The property is located at 828 N Gayoso St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $760,000.
    What are key features of this property?
    This property features: - Fully renovated 6-plex in the desirable Bayou St. John neighborhood, offering immediate income potential.; - Prime location: close proximity to Bayou St. John, Lafitte Greenway, Whole Foods, restaurants, and bars.; - Turnkey property with six rent-ready units featuring new stainless steel appliances and washer/dryer hookups.
    (504) 909-4435
    Request Owner's contact information
    828 N Gayoso St New Orleans, LA 70119
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    New Orleans, LA 70119
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    828 N Gayoso St New Orleans, LA 70119
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    We can help!
    Listing Contact
    Gabriella Francescon
    Gabriella Francescon
    Real Estate License ID: 995706223
    (504) 909-4435
    Learn more
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