Renovated Seven-Unit Apartment
New
For Sale
$1,425,000
1414 MAGAZINE Street, New Orleans, LA 70130
Commercial, New Orleans, LA
Property Size5,016 SF
Price / SF$284.09
Days on Market2
Property Features for 1414 MAGAZINE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU RD2
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
Water source
Public
Amenities
original hardwood floors
soaring 12-foot ceilings
crown molding and ceiling medallions
ornate fireplaces with exposed brick
wrought iron accents
stainless steel appliances
in-unit washer and dryer
private balconies
lushly landscaped common area
outdoor TV
grills
seating area
Building Details
Year built
1919
Floors in Building
2
Listing Agency:
Century 21 J. Carter & Company · Century 21 Real Estate
(504) 810-2825
Listed By:
Ashley Farrell
(504) 421-4898
Added: Oct 9
Last Checked: Oct 10 at 8:06AM
MLS# 2580690
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 1919 apartment building contains seven units across 5,016 square feet and has been fully renovated. Original hardwood floors, 12-foot ceilings, crown molding, ceiling medallions, fireplaces with exposed brick, and wrought-iron details retain the building’s historic character. Each apartment has stainless steel appliances, an in-unit washer and dryer, and a private balcony.
A landscaped shared outdoor area includes seating, an outdoor television, and grills. The property is located at 1414 Magazine Street in New Orleans and is zoned HU RD2. Public water serves the building.
A landscaped shared outdoor area includes seating, an outdoor television, and grills. The property is located at 1414 Magazine Street in New Orleans and is zoned HU RD2. Public water serves the building.
Key Highlights
- Seven apartment units in a 5,016‑square‑foot building
- Built in 1919 and fully renovated
- Original hardwood floors, 12‑foot ceilings, crown molding, and ceiling medallions
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.
Property Analytics
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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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated residences combine period architectural details with contemporary appliances and private balconies.
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 5,016‑square‑foot building; Built in 1919 and fully renovated; Original hardwood floors, 12‑foot ceilings, crown molding, and ceiling medallions
