Renovated 5-Unit Apartment
For Sale
$1,500,000
1-5-414 Burgundy St, New Orleans, LA 70112
Renovated five-unit building with balconies, a sizeable courtyard, and an inground swimming pool for mixed long- and short-term occupancy.
Property Size4,550 SF
Price / SF$329.67
Days on Market376
Property Features for 1-5-414 Burgundy St
General Information
Standard status
Active
Size
4,550 SF
Occupancy
60%
Additional Details
Multifamily Units
5
Listing Agency:
WILLIAMS3, LLC
(504) 261-2677
Listed By:
Gary Williams · License #AB069026
(504) 261-2677
Source:
Exprealty
Added: Aug 1, 2025
Changed: Aug 8
Last Checked: Aug 10 at 8:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WILLIAMS3, LLC
Investment Insights
Based on property information with market context.
This mid-nineteenth century apartment building offers five renovated units, with upgrades completed across the property. The building includes balconies and is complemented by a sizeable courtyard and an inground swimming pool, creating usable outdoor space for residents and guests.
Situated in the heart of the Historic French Quarter, the property benefits from its setting within one of New Orleans’ most established areas. Current occupancy includes three units in place, with one long-term tenant and two short-term tenants.
For an owner, operator, or investor seeking a property that already supports a mixed-use rental approach, the current unit configuration may align with both long-term and short-term leasing strategies. With all five units recently renovated, the building presents as a turnkey option for maintaining rental income through multiple tenancy models, while the outdoor amenities provide an additional draw for occupants who value on-site leisure space.
Situated in the heart of the Historic French Quarter, the property benefits from its setting within one of New Orleans’ most established areas. Current occupancy includes three units in place, with one long-term tenant and two short-term tenants.
For an owner, operator, or investor seeking a property that already supports a mixed-use rental approach, the current unit configuration may align with both long-term and short-term leasing strategies. With all five units recently renovated, the building presents as a turnkey option for maintaining rental income through multiple tenancy models, while the outdoor amenities provide an additional draw for occupants who value on-site leisure space.
Key Highlights
- Mid‑nineteenth century building in the Historic French Quarter with 5 units
- Recently renovated all 5 units
- Mixed occupancy: 3 units currently occupied with 1 long‑term tenant and 2 short‑term tenants
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
$52,957
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
3.53%
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%
$1,059,140
$1.1M
Cap Rate 7%
$756,529
$756.5K
Cap Rate 9%
$588,411
$588.4K
Market Conditions
NOI Build-Up for 4,550 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
$105.9K $23.28/SF
− Vacancy
−$9.6K −$2.12/SF
EGI
$96.3K $21.16/SF
− OpEx
−$43.3K −$9.52/SF
NOI
$53.0K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,059,140
Cap Rate 7%
$756,529
Cap Rate 9%
$588,411
Alternative Uses
Best Use
Apartment 5plus
$756.5K
$662.0K – $882.6K
NOI $52,957 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,952 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
60%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 70112, LA
4,988
Population
3,711
Households
1.3
Avg Household Size
35
Median Age
44%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
4,988
Density / Sq Mi
$23,052
Median Household Income
$36,029
Median Earnings
$1,063
Median Rent
$398,400
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?
Apartment building - Renovated five-unit building with balconies, a sizeable courtyard, and an inground swimming pool for mixed long- and short-term occupancy.
Where is this apartment building located?
The property is located at 1-5-414 Burgundy St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Mid‑nineteenth century building in the Historic French Quarter with 5 units; Recently renovated all 5 units; Mixed occupancy: 3 units currently occupied with 1 long‑term tenant and 2 short‑term tenants
