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    University Area Multifamily Investment Title is generated by Realmo AI

    710 Burdette Street, New Orleans, LA 70118

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    Claim this Listing
    For Sale
    $825,000

    Multifamily property near Tulane and Loyola Universities.

    Type:MULTI FAMILY FOR SALE / Townhouse
    Property size:
    5,655 SF
    Price / SF:
    $145/SF
    Added:
    Jul 12, 2024
    Days on Market:
    691
    Last Refresh:
    Mar 13 at 7:19 pm

    Property Features for 710 Burdette Street

    General Information

    Standard status
    Active
    Size
    5,655 SF
    Property subtype
    MULTI FAMILY FOR SALE / Townhouse

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    Listing Contact
    S. Parkerson McEnery

    Listing agent S. Parkerson McEnery License #995695203

    Listing office The McEnery Company

    Listing date Jul 12, 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 The McEnery Company

    HighLights

    • Prime location in the University neighborhood, near Tulane and Loyola Universities, St. Charles Avenue, and Maple Street.
    • Multi‑family property with six well‑maintained units.
    • Attractive mix of one, two, and three‑bedroom units.
    • Units are separately metered for utilities.
    • Strong future demand and stable occupancy due to barriers to entry.
    • Central air and heating in units.

    Overview

    Located in the University neighborhood of New Orleans, 710 Burdette Street presents an investment opportunity. This multi-family property is situated within walking distance of Tulane and Loyola Universities, and near St. Charles Avenue and the Maple Street commercial corridor, providing access to shopping, dining, and entertainment. The property consists of six units, featuring a mix of one, two, and three-bedroom layouts. The units are separately metered for utilities and are well-maintained. The property size is 5655 square feet.

    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 $131.6k $23.28
    − Vacancy −$12.0k −$2.12
    EGI $119.7k $21.16
    − OpEx −$53.9k −$9.52
    NOI $65.8k $11.64
    5,655 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $940.3K
    $822.7K – $1.10M (±1% cap)
    NOI $65,818 @ 7.0% cap · market cap 7.98%
    Second Best
    no second resolved use
    Theoretical Best
    Office A
    $1.44M
    $1.26M – $1.68M (±1% cap)
    NOI $100,612 @ 7.0% cap · market cap 12.20%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.130823
    Latitude
    29.9421392

    FAQs

    What type of property is this?
    Apartment building - Multifamily property near Tulane and Loyola Universities.
    Where is this apartment building located?
    The property is located at 710 Burdette Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $825,000.
    What are key features of this property?
    This property features: Prime location in the University neighborhood, near Tulane and Loyola Universities, St. Charles Avenue, and Maple Street.; Multi‑family property with six well‑maintained units.; Attractive mix of one, two, and three‑bedroom units.
    More about this property
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