Renovated 5-Unit Apartment
1-5-414 Burgundy St New Orleans, LA 70112
1-5-414 Burgundy St, New Orleans, LA, 70112
$1,500,000
For Sale
$1,500,000
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 Market352
Property Features for 1-5-414 Burgundy St
General Information
- Standard status
- Active
- Size
- 4,550 SF
Listing agency
WILLIAMS3, LLC
(504) 261-2677
Listed by
Gary Williams · License #RA-0020358
(504) 261-2677
Source
Exprealty
Added: Aug 6, 2025 Updated: Jul 10 at 2:02PM Checked: Jul 22 at 9:25AM
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
Local Financial Insights For Apartment 5plus
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 | $105.9k | $23.28 |
| − Vacancy | −$9.6k | −$2.12 |
| EGI | $96.3k | $21.16 |
| − OpEx | −$43.3k | −$9.52 |
| NOI | $53.0k | $11.64 |
4,550 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
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FAQs
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
