Victorian Seven-Unit Apartment
For Sale
$1,495,000
1414 MAGAZINE Street, New Orleans, LA 70130
MULTI_FAMILY - New Orleans, LA
Property Size5,016 SF
Price / SF$298.05
Days on Market48
Property Features for 1414 MAGAZINE Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Patio and Porch features
Porch, Patio
Exterior features
Balcony, Courtyard, Fence, Outdoor Entertainment Area Beyond Your Average Patio, Outdoor Kitchen, Porch
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
1414magazine
Size
5,016 SF
Taxes and HOA fees
Tax Description
SQ 143 Lot B or PT 8 and 9 Magazine
Legal Description
SQ 143 Lot B or PT 8 and 9 Magazine
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer and dryer
private balconies
landscaped common area
outdoor TV
grills
stainless steel appliances
Building Details
Year built
1919
Floors in Building
2
Number of units
7
Roof type
Shingle
Architectural style
Victorian
Additional Structures
Outdoor Kitchen
Listing Agency:
Century 21 J. Carter & Company · Century 21 Real Estate
(504) 810-2825
Listed By:
Ashley Farrell
(504) 810-2825
Added: Jun 25
Changed: Aug 7
Last Checked: Aug 11 at 6:06PM
MLS# 2563277
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.
Fully renovated Victorian apartment building built in 1919 offering seven well-appointed units at 1414 Magazine Street in New Orleans, LA 70130. The property features original hardwood floors, 12-foot ceilings, crown molding and ceiling medallions, and ornate fireplaces with exposed brick plus wrought iron accents. Many unit interiors include stainless steel appliances, private balconies, and in-unit washer and dryer.
Comfort is supported by central heating and central air throughout, with public water service. Outdoors, residents can enjoy a landscaped common area and courtyard with an outdoor TV, grills, and space for entertaining. Exterior amenities include a patio and porch, along with fencing for added privacy. The building has a shingle roof and is served by central systems for year-round use.
With seven units in a turnkey condition, the building can work as a boutique multifamily option where tenants value in-unit laundry and outdoor space while preserving the character of a historic Victorian home.
Comfort is supported by central heating and central air throughout, with public water service. Outdoors, residents can enjoy a landscaped common area and courtyard with an outdoor TV, grills, and space for entertaining. Exterior amenities include a patio and porch, along with fencing for added privacy. The building has a shingle roof and is served by central systems for year-round use.
With seven units in a turnkey condition, the building can work as a boutique multifamily option where tenants value in-unit laundry and outdoor space while preserving the character of a historic Victorian home.
Key Highlights
- Seven‑unit Victorian apartment building with private balconies
- Fully renovated interior with original hardwood floors and 12‑foot ceilings
- Stainless steel appliances plus in‑unit washer and dryer in each unit
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
$58,380
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
3.91%
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%
$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
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
$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 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%
$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 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.12M – $1.49M
NOI $89,243 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,899
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit Victorian apartment building with private balconies, central HVAC, and in-unit washer and dryer.
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 $1,495,000.
What are key features of this property?
This property features: Seven‑unit Victorian apartment building with private balconies; Fully renovated interior with original hardwood floors and 12‑foot ceilings; Stainless steel appliances plus in‑unit washer and dryer in each unit
