Seven-Unit Victorian Apartment
For Sale
$1,425,000
1414 Magazine Street, New Orleans, LA 70130
Apartments feature private balconies, in-unit laundry and stainless steel appliances.
Property Size5,016 SF
Price / SF$284.09
Days on Market17
Property Features for 1414 Magazine Street
General Information
Standard status
Active
Size
5,016 SF
Property subtype
Commercial
Zoning
HU RD2
Site & Location
Neighborhood
Lower Garden District
Additional Details
Multifamily Units
7
Amenities
private balconies
landscaped common area
comfortable seating
outdoor TV
grills
Building Details
Building Size
5,016 SF
Year Built
1919
Stories
2
Construction
Victorian
Listing Agency:
Cypress Key Realty LLC
Listed By:
Christopher Romero
(504) 250-4848
Source:
Cypresskeyrealty
Added: Oct 9
Changed: Oct 24
Last Checked: Oct 23 at 6:15PM
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 Cypress Key Realty LLC
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Investment Insights
Based on property information with market context.
This 5,016-square-foot Victorian apartment property at 1414 Magazine Street contains seven units and dates to 1919. Renovation work has updated the interiors while retaining features such as hardwood floors, 12-foot ceilings, decorative molding, fireplaces with exposed brick, and wrought-iron details. Each apartment has stainless steel appliances, a washer and dryer, and a private balcony.
The landscaped shared outdoor area includes seating, a television and grills. The property is zoned HU RD2 and is located in New Orleans’ Lower Garden District.
The landscaped shared outdoor area includes seating, a television and grills. The property is zoned HU RD2 and is located in New Orleans’ Lower Garden District.
Key Highlights
- Seven apartments in a 5,016‑square‑foot Victorian property
- Built in 1919; zoned HU RD2
- Each unit has stainless steel appliances, a washer and dryer, and a private balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,380
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,167,600
$1.2M
Cap Rate 7%
$834,000
$834.0K
Cap Rate 9%
$648,667
$648.7K
Market Conditions
NOI Build-Up for 5,016 SF
Gross rent
$116.8K $23.28/SF
− Vacancy
−$10.6K −$2.12/SF
EGI
$106.1K $21.16/SF
− OpEx
−$47.8K −$9.52/SF
NOI
$58.4K $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%
$1,167,600
Cap Rate 7%
$834,000
Cap Rate 9%
$648,667
Alternative Uses
Best Use
Apartment 5plus
$834.0K
$729.8K – $973.0K
NOI $58,380 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.12M – $1.49M
NOI $89,243 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,899
Businesses Nearby
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Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartments feature private balconies, in-unit laundry and stainless steel appliances.
Where is this apartment building located?
The property is located at 1414 Magazine Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Seven apartments in a 5,016‑square‑foot Victorian property; Built in 1919; zoned HU RD2; Each unit has stainless steel appliances, a washer and dryer, and a private balcony
