Multifamily Property with
For Sale
$2,850,000
3135 Dauphine St, New Orleans, LA 70117
1970 multifamily asset with condominium conversion flexibility and on-site parking.
Property Size15,054 SF
Price / SF$189.32
Days on Market819
Property Features for 3135 Dauphine St
General Information
Standard status
Active
Size
15,054 SF
Total Parking Spaces
26
Property subtype
Multifamily
Zoning
HMR-1
Site & Location
Neighborhood
St. Claude
Building Details
Year Built
1970
Listing Agency:
REMAX Alliance
Listed By:
Douglas Bernard, CCIM · License #000055934
(985) 626-1561
Source:
Lacdb.resimplifi
Added: Jul 28, 2024
Changed: Oct 1
Last Checked: Oct 24 at 1:41PM
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 REMAX Alliance
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Investment Insights
Based on property information with market context.
Located at 3135 Dauphine St in New Orleans, this 15,054-square-foot multifamily property was built in 1970 and is zoned HMR-1. The asset includes 26 on-site parking spaces and operates within an established condominium regime.
The existing condominium structure allows individual units to be converted to condominiums at the purchaser’s option. The property also includes an assumable non-recourse loan with a maturity date of March 1, 2029. Together, the building’s multifamily configuration, parking component, zoning, and condominium framework provide a clearly defined physical and ownership structure.
The existing condominium structure allows individual units to be converted to condominiums at the purchaser’s option. The property also includes an assumable non-recourse loan with a maturity date of March 1, 2029. Together, the building’s multifamily configuration, parking component, zoning, and condominium framework provide a clearly defined physical and ownership structure.
Key Highlights
- 15,054‑square‑foot multifamily property built in 1970
- Zoned HMR‑1
- 26 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$175,211
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,504,220
$3.5M
Cap Rate 7%
$2,503,014
$2.5M
Cap Rate 9%
$1,946,789
$1.9M
Market Conditions
NOI Build-Up for 15,054 SF
Gross rent
$350.5K $23.28/SF
− Vacancy
−$31.9K −$2.12/SF
EGI
$318.6K $21.16/SF
− OpEx
−$143.4K −$9.52/SF
NOI
$175.2K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,504,220
Cap Rate 7%
$2,503,014
Cap Rate 9%
$1,946,789
Alternative Uses
Best Use
Apartment 5plus
$2.50M
$2.19M – $2.92M
NOI $175,211 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,836 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Location Intelligence
Trade Area within ½ mile
1,347
Businesses Nearby
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Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - 1970 multifamily asset with condominium conversion flexibility and on-site parking.
Where is this multifamily property located?
The property is located at 3135 Dauphine St New Orleans, LA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 15,054‑square‑foot multifamily property built in 1970; Zoned HMR‑1; 26 on‑site parking spaces
