Renovated Multi-Family Bywater
728 Desire Street New Orleans, LA 70117
728 Desire Street, New Orleans, LA, 70117
$999,000
For Sale
$999,000
Six-unit apartment building in Bywater, renovated in 2019.
Property Size4,480 SF
Price / SF$222.99
Days on Market633
Property Features for 728 Desire Street
General Information
- Standard status
- Active
- Size
- 4,480 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 2019
Listing Agency
REVE, REALTORS
(504) 884-3893
Listed by
Phillipa Bowers · License #995703036
(504) 884-3893
Source
Compass
Added: Oct 23, 2024 Checked: Jul 17 at 4:32 am
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
Located in the Bywater Neighborhood of New Orleans, this multi-family apartment building offers a valuable investment opportunity. The property features 4,495 square feet of rentable space, configured into six apartments. Off-street parking is available. The building underwent a complete renovation in 2019. The property is well-maintained and has stabilized in-place cash flow. The location offers proximity to surrounding neighborhoods, retailers, schools, and places of work, potentially providing stability and rent appreciation.
Key Highlights
- High occupancy multi‑family apartment building with stabilized in‑place cash flow.
- Completely renovated in 2019.
- Six apartments with off‑street parking.
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 | $104.3k | $23.28 |
| − Vacancy | −$9.5k | −$2.12 |
| EGI | $94.8k | $21.16 |
| − OpEx | −$42.7k | −$9.52 |
| NOI | $52.1k | $11.64 |
4,480 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$744.9K
$651.8K – $869.0K
NOI $52,142 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$996.3K – $1.33M
NOI $79,707 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six-unit apartment building in Bywater, renovated in 2019.
Where is this apartment building located?
The property is located at 728 Desire Street New Orleans, LA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: High occupancy multi‑family apartment building with stabilized in‑place cash flow.; Completely renovated in 2019.; Six apartments with off‑street parking.
