940 LOUISIANA Avenue, New Orleans, LA 70115
- Added:
- Jul 30, 2025
- Days on Market:
- 318
- Last Refresh:
- Jun 12 at 5:06 am
Property Features for 940 LOUISIANA Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Pending
- APN
- 1
- Size
- 2,750 SF
Utilities
- Heating system
- Ductless (Heating), Other (Heating)
- Cooling system
- Ductless, Window Unit(s), Wall Unit(s)
- Water source
- Public
Building Details
- Year built
- 1945
- Floors in Building
- 2
- Number of units
- 3
- Roof type
- Shingle
- Architectural style
- Victorian
Listing agent Terrence Davis License #099563347 (504) 862-0100
Listing office Keller Williams Realty New Orleans 8601 Leake Ave., New Orleans, LA (504) 862-0100
Listing date Jul 30, 2025
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
- Former corner store currently used as a tri‑plex; sold as‑is with no repairs by the seller
- One block to Magazine St
- Victorian‑style building built in 1945
- Ductless and other heating sources
- Cooling includes ductless, window unit(s), and wall unit(s)
- Public water service; shingle roof
Overview
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 | $37.0k | $13.44 |
| − Vacancy | −$3.2k | −$1.16 |
| EGI | $33.8k | $12.28 |
| − OpEx | −$10.1k | −$3.68 |
| NOI | $23.6k | $8.60 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.088705
- Latitude
- 29.921857