Fully Occupied
3909-11 Iberville Street New Orleans, LA 70119
For Sale
$575,000
Fiveplex property is fully occupied and includes high ceilings, hardwood floors, and on-site parking for several cars.
Property Size3,558 SF
Price / SF$161.61
Days on Market519
Property Features for 3909-11 Iberville Street
General Information
- Standard status
- Active
- Size
- 3,558 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1924
Listing Agency:
Dorian Bennett Sotheby's International Realty
(504) 452-4677
Listed By:
Michael Bain · License #000057496
(504) 452-4677
Source:
Compass
Added: Feb 20, 2025
Changed: Jul 23
Last Checked: Jul 23 at 5:26PM
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 Dorian Bennett Sotheby's International Realty
Investment Insights
Based on property information with market context.
This fully occupied 5plex offers a residential income opportunity with distinctive interior character, including high ceilings and hardwood floors, along with many original features. The building provides parking for several cars on the property.
Located in Mid-City and close to Carrollton Avenue, the property benefits from an established surrounding residential and commercial setting.
Offered for sale as a multi-unit investment, this 5plex is positioned for steady income with current full occupancy.
Located in Mid-City and close to Carrollton Avenue, the property benefits from an established surrounding residential and commercial setting.
Offered for sale as a multi-unit investment, this 5plex is positioned for steady income with current full occupancy.
Key Highlights
- Fully occupied 5‑plex in Mid‑City
- 5 bedrooms and 5 full bathrooms across the 5‑plex
- 2‑story frame construction with pillar/post/pier foundation and an asphalt/other roof
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 | $82.8k | $23.28 |
| − Vacancy | −$7.5k | −$2.12 |
| EGI | $75.3k | $21.16 |
| − OpEx | −$33.9k | −$9.52 |
| NOI | $41.4k | $11.64 |
3,558 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$591.6K
$517.6K – $690.2K
NOI $41,411 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$931.0K
$814.6K – $1.09M
NOI $65,171 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fiveplex property is fully occupied and includes high ceilings, hardwood floors, and on-site parking for several cars.
Where is this apartment building located?
The property is located at 3909-11 Iberville Street New Orleans, LA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Fully occupied 5‑plex in Mid‑City; 5 bedrooms and 5 full bathrooms across the 5‑plex; 2‑story frame construction with pillar/post/pier foundation and an asphalt/other roof
