Renovated Duplex Near Maple
1127 Fern Street, New Orleans, LA 70118
Two renovated units near Maple Street, Riverbend, and Oak Street.
Type:MULTI FAMILY FOR SALE / Townhouse
Property size:
2,719 SFPrice / SF:
$168/SF- Added:
- Oct 7, 2024
- Days on Market:
- 604
- Last Refresh:
- Mar 24 at 7:09 am
Property Features for 1127 Fern Street
General Information
- Standard status
- Active
- Size
- 2,719 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1944
Listing agent Kim Catalano License #000050350 (504) 462-0734
Listing office LATTER & BLUM (LATT28) (504) 462-0734
Listing date Oct 7, 2024
Source Compass
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 LATTER & BLUM (LATT28)
HighLights
- Prime location: Walkable to Maple St., Riverbend, Oak St., and the streetcar line.
- Two units included: Unit A (lower) and Unit B (upper), offering flexibility.
- Fully equipped kitchens: Both units feature dishwashers, ranges/ovens, microwaves, and refrigerators.
- Indoor laundry: Each unit includes a washer and dryer.
- Off‑street parking: Unit A includes parking for one vehicle.
- Home warranty: Seller offers an Old Republic Home Warranty (up to $950).
Overview
This property features two units. Unit A, the lower unit, includes 2 bedrooms and 1 bath, wood floors, fresh paint, and new light fixtures and fans, renovated in 2013. The kitchen is fully equipped with a dishwasher, range oven, microwave, and refrigerator. Indoor laundry includes a washer and dryer. The unit is prewired for telephone and cable, and offers off-street parking for one vehicle. Unit B, the upper unit, also has 2 bedrooms and 1 bath, with refinished floors, light fixtures, and fans. The kitchen features granite countertops, a microwave, dishwasher, refrigerator, and range oven. An indoor laundry room includes a washer and dryer. The porch is enclosed for additional living space, and the unit is prewired for cable and telephone. The upper unit is all electric. The property is located within walking distance to Maple Street, Riverbend, Oak Street, and the street car line. The seller will offer an Old Republic Home Warranty not to exceed $950 per the plan. The property size is 2719 square feet.
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 | $53.8k | $19.80 |
| − Vacancy | −$4.7k | −$1.71 |
| EGI | $49.2k | $18.09 |
| − OpEx | −$14.8k | −$5.43 |
| NOI | $34.4k | $12.66 |
2,719 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$491.8K
$430.4K – $573.8K
NOI $34,429 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$452.1K
$395.6K – $527.4K
NOI $31,646 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$691.1K
$604.7K – $806.3K
NOI $48,376 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Focus Technologies LLC
Industrial Manufacturer
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.1282465
- Latitude
- 29.9456507
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two renovated units near Maple Street, Riverbend, and Oak Street.
Where is this duplex located?
The property is located at 1127 Fern Street New Orleans, LA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Prime location: Walkable to Maple St., Riverbend, Oak St., and the streetcar line.; Two units included: Unit A (lower) and Unit B (upper), offering flexibility.; Fully equipped kitchens: Both units feature dishwashers, ranges/ovens, microwaves, and refrigerators.
