Renovated 7-Unit Apartment
New
For Sale
$1,250,000
1418 20 JOSEPHINE Street, New Orleans, LA 70130
Seven residences offer varied floor plans, updated interiors, central air, and in-unit laundry across most apartments.
Property Size3,676 SF
Lot Size0.13 Acres
Days on Market6
Property Features for 1418 20 JOSEPHINE Street
General Information
Standard status
Active
Size
3,676 SF
Lot size
0.13 Acres
Property subtype
Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
7
Amenities
stainless steel appliances
central air conditioning
in-unit laundry
rear yard
Building Details
Building Size
3,676 SF
Year Built
1920
Year Renovated
2019
Buildings
1
Listing Agency:
Valmont Realtors
(251) 928-7907
Listed By:
Kristen Koppel · License #995687860
Source:
Burkbrokerage
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 21 at 8:47AM
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 Valmont Realtors
Investment Insights
Based on property information with market context.
This seven-unit apartment building combines a 1920 construction date with a comprehensive 2019 renovation. The property includes studio, one-bedroom, and two-bedroom residences, each with a kitchen outfitted with a refrigerator, dishwasher, range/oven, and microwave. Central air conditioning serves every unit. Laundry is located within the apartments except for the two studios, which share a first-floor washer and dryer. Electricity and water are separately metered by unit, supporting distinct utility allocation.
The property occupies a 36' x 159' lot at 1418 20 Josephine Street in New Orleans. Its rear yard extends the usable outdoor area, while the Garden District setting places the building within walking distance of Magazine Street, Prytania Street, and St. Charles Avenue. Restaurants, boutique shopping, historic architecture, and access to the city's streetcar line are also identified in the surrounding area.
The property occupies a 36' x 159' lot at 1418 20 Josephine Street in New Orleans. Its rear yard extends the usable outdoor area, while the Garden District setting places the building within walking distance of Magazine Street, Prytania Street, and St. Charles Avenue. Restaurants, boutique shopping, historic architecture, and access to the city's streetcar line are also identified in the surrounding area.
Key Highlights
- Seven‑unit apartment property with studio, one‑bedroom, and two‑bedroom floor plans
- Comprehensive renovation completed in 2019
- 36' x 159' lot with a generous rear yard
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
$42,784
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
3.42%
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%
$855,680
$855.7K
Cap Rate 7%
$611,200
$611.2K
Cap Rate 9%
$475,378
$475.4K
Market Conditions
NOI Build-Up for 3,676 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
$85.6K $23.28/SF
− Vacancy
−$7.8K −$2.12/SF
EGI
$77.8K $21.16/SF
− OpEx
−$35.0K −$9.52/SF
NOI
$42.8K $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%
$855,680
Cap Rate 7%
$611,200
Cap Rate 9%
$475,378
Alternative Uses
Best Use
Apartment 5plus
$611.2K
$534.8K – $713.1K
NOI $42,784 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$934.3K
$817.5K – $1.09M
NOI $65,402 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,552
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 residences offer varied floor plans, updated interiors, central air, and in-unit laundry across most apartments.
Where is this apartment building located?
The property is located at 1418 20 JOSEPHINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Seven‑unit apartment property with studio, one‑bedroom, and two‑bedroom floor plans; Comprehensive renovation completed in 2019; 36' x 159' lot with a generous rear yard
