University Area Multifamily
710 Burdette Street, New Orleans, LA 70118
Multifamily property near Tulane and Loyola Universities.
Type:MULTI FAMILY FOR SALE / Townhouse
Property size:
5,655 SFPrice / 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
Listing agent S. Parkerson McEnery License #995695203 (504) 510-2856
Listing office The McEnery Company (504) 510-2856
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
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
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
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.130823
- Latitude
- 29.9421392
Nearby Similar for Sale
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.
