Furnished Multifamily Residence
For Sale
$9,999,999
4117 Woodland Dr., New Orleans, LA 70131
Four-story campus housing facility with furnished suites, shared amenities, and a fitness center.
Property Size60,000 SF
Lot Size2.06 Acres
Price / SF$166.67
Days on Market620
Property Features for 4117 Woodland Dr.
General Information
Standard status
Active
Size
60,000 SF
Lot size
2.06 Acres
Property subtype
Other
Zoning
ECD Educational Campus District
Units
Unit Mix
39 x singles, 26 x doubles, 2 x double deluxe, 5 x quads
Multifamily Units
72
Additional Details
Furnished
Yes
Public Transit
Yes
Amenities
Wi-Fi Equipped Throughout
Access to Public Transportation
Study Rooms on each floor
Trash Chute on each floor
Laundry Facility
Community Living Room
Conference Rooms
Dorm Manager's Apartment with Small Kitchen
Community Kitchen & Dining Room
Fully-Equipped Fitness Center & Locker Rooms
Meditation Room
Mail Room with designated address
Water
Sewer
Natural Gas
Building Details
Year Built
2018
Buildings
1
Stories
4
Listing Agency:
Stirling New Orleans
(228) 365-7445
Listed By:
Melissa Warren · License #0995682195
(228) 365-7445
Source:
Lacdb.resimplifi
Added: Dec 19, 2024
Changed: Aug 29
Last Checked: Aug 31 at 12:40PM
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 Stirling New Orleans
Investment Insights
Based on property information with market context.
Positioned within the University of Holy Cross campus, this 4-story multifamily property contains 60,000 SF on 2.06 acres and was built in 2018. The vacant facility includes 72 furnished suites with 115 beds, including 39 single suites, 26 double suites, 2 double deluxe suites, and 5 quad suites. Every suite has a full bathroom, with no more than two occupants per bathroom. Furniture is included with the sale.
Common areas support residential and institutional operations, with study rooms on each floor, Wi-Fi throughout, and a trash chute on every floor. First-floor amenities include laundry facilities, a community living room, conference rooms, a manager’s apartment with a small kitchen, a community kitchen and dining room, a fitness center with locker rooms, a meditation room, and a mail room with a designated address. ECD Educational Campus District zoning identifies residential, short-term rental, group living, commercial, retail, hospitality, institutional, and medical office uses among its permitted categories. A public bus stop is located steps from the building on Woodland Dr., with Downtown New Orleans, Amtrak New Orleans Station, and Louis Armstrong Airport within the stated drive times.
Common areas support residential and institutional operations, with study rooms on each floor, Wi-Fi throughout, and a trash chute on every floor. First-floor amenities include laundry facilities, a community living room, conference rooms, a manager’s apartment with a small kitchen, a community kitchen and dining room, a fitness center with locker rooms, a meditation room, and a mail room with a designated address. ECD Educational Campus District zoning identifies residential, short-term rental, group living, commercial, retail, hospitality, institutional, and medical office uses among its permitted categories. A public bus stop is located steps from the building on Woodland Dr., with Downtown New Orleans, Amtrak New Orleans Station, and Louis Armstrong Airport within the stated drive times.
Key Highlights
- 60,000 SF multifamily residence hall on 2.06 acres
- 72 furnished suites totaling 115 beds
- Suite mix includes 39 singles, 26 doubles, 2 double deluxe, and 5 quads
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$698,330
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,966,600
$14.0M
Cap Rate 7%
$9,976,143
$10.0M
Cap Rate 9%
$7,759,222
$7.8M
Market Conditions
NOI Build-Up for 60,000 SF
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.
Gross rent
$1.40M $23.28/SF
− Vacancy
−$127.1K −$2.12/SF
EGI
$1.27M $21.16/SF
− OpEx
−$571.4K −$9.52/SF
NOI
$698.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$13,966,600
Cap Rate 7%
$9,976,143
Cap Rate 9%
$7,759,222
Alternative Uses
Best Use
Apartment 5plus
$9.98M
$8.73M – $11.64M
NOI $698,330 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.25M
$13.34M – $17.79M
NOI $1,067,501 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
72
Residential units
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 70131, LA
27,473
Population
12,070
Households
2.3
Avg Household Size
38
Median Age
36%
College-Educated
92%
High-School Grad
11.7 sq mi
ZIP Area
2,348
Density / Sq Mi
$64,294
Median Household Income
$45,347
Median Earnings
$1,057
Median Rent
$236,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Four-story campus housing facility with furnished suites, shared amenities, and a fitness center.
Where is this multifamily property located?
The property is located at 4117 Woodland Dr. New Orleans, LA.
What is the asking price?
The asking price for this property is $9,999,999.
What are key features of this property?
This property features: 60,000 SF multifamily residence hall on 2.06 acres; 72 furnished suites totaling 115 beds; Suite mix includes 39 singles, 26 doubles, 2 double deluxe, and 5 quads
