Renovated Corner-Lot
For Sale
$715,000
1201 N Galvez St, New Orleans, LA 70119
Three independent units with separate kitchens, living areas, laundry facilities, and central air and heat.
Property Size3,820 SF
Price / SF$187.17
Days on Market9
Property Features for 1201 N Galvez St
General Information
Standard status
Active
Size
3,820 SF
Property subtype
Multi-Family
Zoning
duplex
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
in-unit laundry
central air and heat
Building Details
Year Built
1926
Year Renovated
2018
Buildings
1
Listing Agency:
Century 21 Action Realty, Inc.
(504) 606-0466
Listed By:
April Brown · License #995695343
(504) 606-0466
Source:
Hospitalityrealty
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 26 at 12:41PM
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 Century 21 Action Realty, Inc.
Investment Insights
Based on property information with market context.
This 1926 corner-lot triplex contains three independent residential units with varied layouts and private-entry options. The primary 1201 configuration includes an upstairs open-plan living area, kitchen, small office, three bedrooms, an ensuite bathroom, and 2.5 bathrooms. A separate lower-level guest suite adds one bedroom and one bathroom. Both portions of 1201 have their own kitchens, living spaces, and laundry facilities, while the lower portion can also connect to the upstairs unit. The rear 1203 unit offers two bedrooms, one bathroom, and its own electrical meter. All units include central air and heat and in-unit laundry.
The property is located at 1201 N GALVEZ Street in New Orleans on a corner lot with rear driveway access. It was renovated in 2017/2018 with new roofing, HVAC, plumbing, and electrical systems. The property is currently zoned as a duplex, has one water meter serving the home, and the two portions of 1201 share an electrical meter.
The property is located at 1201 N GALVEZ Street in New Orleans on a corner lot with rear driveway access. It was renovated in 2017/2018 with new roofing, HVAC, plumbing, and electrical systems. The property is currently zoned as a duplex, has one water meter serving the home, and the two portions of 1201 share an electrical meter.
Key Highlights
- Three independent units, including 2 long‑term tenant units and 1 STR
- Renovation in 2017/2018 included roofing, HVAC, plumbing, and electrical systems
- 1201 includes 3 bedrooms, 2.5 bathrooms, and a separate 1‑bedroom, 1‑bathroom guest suite
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
$48,371
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
6.77%
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%
$967,420
$967.4K
Cap Rate 7%
$691,014
$691.0K
Cap Rate 9%
$537,456
$537.5K
Market Conditions
NOI Build-Up for 3,820 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
$75.6K $19.80/SF
− Vacancy
−$6.5K −$1.71/SF
EGI
$69.1K $18.09/SF
− OpEx
−$20.7K −$5.43/SF
NOI
$48.4K $12.66/SF
Area
ZIP 70119
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$967,420
Cap Rate 7%
$691,014
Cap Rate 9%
$537,456
Alternative Uses
Best Use
Multifamily LT 5
$691.0K
$604.6K – $806.2K
NOI $48,371 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$635.1K
$555.8K – $741.0K
NOI $44,460 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$999.6K
$874.6K – $1.17M
NOI $69,970 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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?
Triplex - Three independent units with separate kitchens, living areas, laundry facilities, and central air and heat.
Where is this triplex located?
The property is located at 1201 N Galvez St New Orleans, LA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Three independent units, including 2 long‑term tenant units and 1 STR; Renovation in 2017/2018 included roofing, HVAC, plumbing, and electrical systems; 1201 includes 3 bedrooms, 2.5 bathrooms, and a separate 1‑bedroom, 1‑bathroom guest suite
