7-Unit Victorian Apartment
For Sale
$1,425,000
1414 MAGAZINE Street, New Orleans, LA 70130
Commercial Sale, New Orleans, LA
Property Size5,016 SF
Price / SF$284.09
Days on Market17
Property Features for 1414 MAGAZINE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU RD2
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
Sewer type
Public Sewer
Water source
Public
Amenities
landscaped common area
outdoor TV
grills
private balconies
in-unit washer/dryer
Building Details
Year built
1919
Floors in Building
2
Building materials
Wood Siding
Buildings
1
Listing Agency:
Century 21 J. Carter & Company · Century 21 Real Estate
(504) 810-2825
Listed By:
Ashley T Farrell · License #995704751
(504) 421-4898
Added: Oct 9
Changed: Oct 23
Last Checked: Oct 25 at 2:06PM
MLS# 2580690
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1919, this 5,016-square-foot Victorian apartment property contains seven units and is described as fully renovated. Interior details include hardwood flooring, 12-foot ceilings, crown molding, ceiling medallions, fireplaces with exposed brick, and wrought-iron accents. Each apartment has stainless steel appliances, a washer and dryer, and a private balcony. The property is zoned HU RD2.
A landscaped shared outdoor area provides seating, a television, and grills. The property is on Magazine Street in New Orleans’ Lower Garden District, with public water and sewer service.
A landscaped shared outdoor area provides seating, a television, and grills. The property is on Magazine Street in New Orleans’ Lower Garden District, with public water and sewer service.
Key Highlights
- Seven apartment units in a Victorian building constructed in 1919
- 5,016 square feet; zoning is 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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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated apartments combine historic architectural details with private balconies and shared outdoor amenities.
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 apartment units in a Victorian building constructed in 1919; 5,016 square feet; zoning is HU RD2; Each unit has stainless steel appliances, a washer and dryer, and a private balcony
