12-Unit Multifamily
1356 FLANDERS Street New Orleans, LA 70114
1356 FLANDERS Street, New Orleans, LA, 70114
$800,000
For Sale
$800,000
MULTI_FAMILY - New Orleans, LA
Property Size6,100 SF
Price / SF$131.15
Days on Market104
Property Features for 1356 FLANDERS Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Parking features
- Off Street, Driveway
- Security features
- Security
- Exterior features
- Fence, Security Cameras
- Fencing
- Fenced
- Standard status
- Active
- APN
- 513709440
- Size
- 6,100 SF
Taxes and HOA fees
- Tax Description
- 1. RIVER VIEW PK SUB DIV SQ 1 2. LOT 1 3. 73/114 X 101/92
Utilities
- Heating system
- Ductless (Heating), Other (Heating)
- Cooling system
- Wall Unit(s), Ductless
- Water source
- Public
Building Details
- Year built
- 1967
- Floors in Building
- 2
- Number of units
- 12
- Roof type
- Shingle
Listing Agency
eXp Realty, LLC
(337) 522-7554
650 Poydras St, New Orleans, LA
Listed by
Lauren Lawson · License #995704895
(337) 522-7554
Added: Apr 6 Checked: Jul 18 at 1:06 am
MLS# 2551355
Listing URL
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale 12-unit multifamily property is maintained with a newer roof, updated AC units, fresh exterior paint, and a camera system. Select units have additional updates including new flooring, refrigerators, and stoves, supporting day-to-day livability and tenant readiness. The seller indicates the property is currently generating $9,100 per month.
Located at 1356 Flanders Street in New Orleans, Louisiana 70114, the property is designated as being in an X Flood Zone. Full details on the current operating setup, including income specifics, are available via request through a rent roll.
For investors or operators seeking a straightforward apartment building with multiple recently addressed components, this asset offers a practical starting point. The combination of roof and mechanical updates, along with unit-level replacements in select apartments, may help reduce near-term capital concerns while keeping the focus on managing occupied units. Interested parties should review the rent roll and current unit conditions to confirm fit and underwriting assumptions.
Located at 1356 Flanders Street in New Orleans, Louisiana 70114, the property is designated as being in an X Flood Zone. Full details on the current operating setup, including income specifics, are available via request through a rent roll.
For investors or operators seeking a straightforward apartment building with multiple recently addressed components, this asset offers a practical starting point. The combination of roof and mechanical updates, along with unit-level replacements in select apartments, may help reduce near-term capital concerns while keeping the focus on managing occupied units. Interested parties should review the rent roll and current unit conditions to confirm fit and underwriting assumptions.
Key Highlights
- 12‑unit multifamily property built in 1967 with $9,100/month current income
- X flood zone (per remarks) with public water supply
- Newer shingle roof and fenced exterior with security cameras
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 | $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 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,529 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Twelve-unit multifamily asset with newer roof, updated AC, and recent exterior improvements in an X Flood Zone.
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 $800,000.
What are key features of this property?
This property features: 12‑unit multifamily property built in 1967 with $9,100/month current income; X flood zone (per remarks) with public water supply; Newer shingle roof and fenced exterior with security cameras
