Six-Unit Apartment
1005 JOSEPHINE Street, New Orleans, LA 70130
For Sale
$1,150,000
Renovated two-story property with a courtyard, shared patio, laundry room, and individually metered utilities.
Property Size5,882 SF
Lot Size0.08 Acres
Price / SF$195.51
Days on Market58
Property Features for 1005 JOSEPHINE Street
General Information
Standard status
Size
Lot size
Property subtype
Financials
Asking Price
Cap Rate
Gross Income
Gross Rent Multiplier
Site & Location
Neighborhood
Utilities to Site
Amenities
wraparound balcony
courtyard
private balconies
large patio
on site laundry room
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Tenancy
Listing Agency:
Bridgewater Realty Advisors, LLC
Listed By:
Cameron Griffin · License LA #995696437
(504) 535-5680
Source:
Burkbrokerage
Added: Sep 18
Changed: Oct 31
Last Checked: Nov 12 at 6:07PM
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 Bridgewater Realty Advisors, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 1005 Josephine Street, this two-story multifamily property contains six apartments totaling about 5,882 square feet on a roughly 33 by 108 foot lot. The building was fully renovated in 2007 while retaining its wood siding, wraparound balcony, and courtyard. The unit mix includes three one-bedroom apartments, two two-bedroom apartments, and one three-bedroom apartment, with units averaging about 980 square feet. Several apartments have private balconies, and residents share a large patio and on-site laundry room.
Each apartment has separate electric and gas meters paid by the tenant, while ownership pays water. The property is one block from Magazine Street, between Constance and Magazine, and near St. Mary's Assumption and the St. Alphonsus Art and Cultural Center. Jackson Avenue, the Lower Garden District, and the St. Charles streetcar are within a short walk, with the Central Business District a few minutes downriver.
Each apartment has separate electric and gas meters paid by the tenant, while ownership pays water. The property is one block from Magazine Street, between Constance and Magazine, and near St. Mary's Assumption and the St. Alphonsus Art and Cultural Center. Jackson Avenue, the Lower Garden District, and the St. Charles streetcar are within a short walk, with the Central Business District a few minutes downriver.
Key Highlights
- Six apartments totaling about 5,882 square feet
- Unit mix includes three one‑bedroom, two two‑bedroom, and one three‑bedroom apartments
- Fully renovated in 2007 with wood siding, wraparound balcony, and courtyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,460
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,369,200
$1.4M
Cap Rate 7%
$978,000
$978.0K
Cap Rate 9%
$760,667
$760.7K
Market Conditions
NOI Build-Up for 5,882 SF
Gross rent
$136.9K $23.28/SF
− Vacancy
−$12.5K −$2.12/SF
EGI
$124.5K $21.16/SF
− OpEx
−$56.0K −$9.52/SF
NOI
$68.5K $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 Rate 5%
$1,369,200
Cap Rate 7%
$978,000
Cap Rate 9%
$760,667
Alternative Uses
Best Use
Apartment 5plus
$978.0K
$855.8K – $1.14M
NOI $68,460 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.50M
$1.31M – $1.74M
NOI $104,651 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,945
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in New Orleans, LA
Properties on Market for Apartment buildings in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated two-story property with a courtyard, shared patio, laundry room, and individually metered utilities.
Where is this apartment building located?
The property is located at 1005 JOSEPHINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Six apartments totaling about 5,882 square feet; Unit mix includes three one‑bedroom, two two‑bedroom, and one three‑bedroom apartments; Fully renovated in 2007 with wood siding, wraparound balcony, and courtyard
