7-Unit Victorian Apartment
1414 Magazine Street, New Orleans, LA 70130
For Sale
New
$1,395,000
Multifamily, New Orleans, LA
Property Size5,016 SF
Lot Size0.13 Acres
Price / SF$278.11
Days on Market5
Property Features for 1414 Magazine Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Exterior features
Appliances
Lot features
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
stainless steel appliances
in-unit washer and dryer
private balconies
landscaped common area
outdoor TV
grills
Building Details
Year built
Number of units
Flooring type
Building materials
Architectural style
Additional Structures
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: Nov 3
Changed: Nov 6
Last Checked: Nov 7 at 10:06PM
MLS# 200OVK
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 Victorian apartment property contains seven units within 5,016 square feet on a 0.13-acre lot. Wood flooring, 12-foot ceilings, crown molding, ceiling medallions, fireplaces, exposed brick, and wrought-iron details contribute to the building’s architectural character. Central heating and air conditioning serve the property, and the units include stainless steel appliances, washers and dryers, and private balconies.
A landscaped shared outdoor area includes seating, an outdoor TV, grills, and an outdoor kitchen. The property is located on Magazine Street in New Orleans’ Lower Garden District and is zoned HU RD2.
A landscaped shared outdoor area includes seating, an outdoor TV, grills, and an outdoor kitchen. The property is located on Magazine Street in New Orleans’ Lower Garden District and is zoned HU RD2.
Key Highlights
- Seven‑unit Victorian apartment property built in 1919
- 5,016 square feet on a 0.13‑acre lot
- Each unit has a private balcony, in‑unit washer and dryer, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,380
Cap Rate
4.18%
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 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.12M – $1.49M
NOI $89,243 @ 7.0% cap · market cap 6.40%
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
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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
$529,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in New Orleans, LA
Properties on Market for Apartment buildings in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Every residence has stainless steel appliances, in-unit laundry, and a private balcony.
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 $1,395,000.
What are key features of this property?
This property features: Seven‑unit Victorian apartment property built in 1919; 5,016 square feet on a 0.13‑acre lot; Each unit has a private balcony, in‑unit washer and dryer, and stainless steel appliances
