12-Unit Multifamily
1356 Flanders Street New Orleans, LA 70114
For Sale
$1,050,000
12-unit multifamily property currently producing monthly income, with recent roof, AC updates, exterior paint, and unit upgrades.
Property Size6,100 SF
Price / SF$172.13
Days on Market110
Property Features for 1356 Flanders Street
General Information
- Standard status
- Active
- Size
- 6,100 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1967
Listing Agency:
eXp Realty, LLC
(504) 452-8439
Listed By:
Lauren Lawson · License #995704895
(504) 452-8439
Source:
Compass
Added: Apr 6
Changed: Jul 23
Last Checked: Jul 23 at 4:46AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 12-unit multifamily investment property is currently generating $9,100 per month. The building features a newer roof, updated AC units, fresh exterior paint, and a camera system. Select units have additional upgrades including new flooring, refrigerators, and stoves.
The property is noted as being in an X Flood Zone.
Overall, the property is described as well-maintained with recent improvements and unit-level updates that support continued income generation.
The property is noted as being in an X Flood Zone.
Overall, the property is described as well-maintained with recent improvements and unit-level updates that support continued income generation.
Key Highlights
- 12‑unit multifamily property with 12 bedrooms and 12 full bathrooms
- Currently generating $9,100/month in rental income
- 2‑story brick building on a slab foundation; built in 1967
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 | $142.0k | $23.28 |
| − Vacancy | −$12.9k | −$2.12 |
| EGI | $129.1k | $21.16 |
| − OpEx | −$58.1k | −$9.52 |
| NOI | $71.0k | $11.64 |
6,100 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$887.5K – $1.18M
NOI $70,997 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,529 @ 7.0% cap · market cap 10.34%
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 - 12-unit multifamily property currently producing monthly income, with recent roof, AC updates, exterior paint, and unit upgrades.
Where is this apartment building located?
The property is located at 1356 Flanders Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 12‑unit multifamily property with 12 bedrooms and 12 full bathrooms; Currently generating $9,100/month in rental income; 2‑story brick building on a slab foundation; built in 1967
