Renovated Three-Unit
For Sale
$240,000
142 Brooklyn Avenue, Jefferson, LA 70121
Updated residences offer individual utility metering, off-street parking, and access to the Mississippi River levee path.
Property Size1,605 SF
Price / SF$149.53
Days on Market172
Property Features for 142 Brooklyn Avenue
General Information
Standard status
Active
Size
1,605 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air, Wall Unit(s), Window Unit(s)
Central, Wall Furnace, Other Heat
1
3
Shared
Asphalt
Other
Pillar/Post/Pier
Concrete, Vinyl Siding
Porch
Building Details
Year Built
1935
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 723-1648
Listed By:
Kurt Brodtmann · License #995702580
(504) 723-1648
Source:
Compass
Added: Mar 13
Changed: Aug 31
Last Checked: Aug 30 at 10:58PM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
Investment Insights
Based on property information with market context.
Built in 1935, this three-unit property has been recently renovated while retaining select original details, including cypress windows, some original flooring, and tall ceilings. Each residence contains 1 bedroom and 1 bath, with updated kitchens featuring granite countertops, new bathrooms with custom showers, and new appliances. Central air, window units, central heat, and other heat sources are present. The roof is 4 years old.
Each unit has separate water and electrical meters, while gas service is available but not currently in use. The property includes off-street parking for three vehicles, a shaded backyard, a large shed, and space for additional parking. Located at 142 Brooklyn Avenue in New Orleans, the property sits near the Orleans Parish line, the Mississippi River levee’s walking and biking path, and Ochsner’s Main Campus, with access to New Orleans, Elmwood, Metairie, shopping, dining, schools, hospitals, and major thoroughfares.
Each unit has separate water and electrical meters, while gas service is available but not currently in use. The property includes off-street parking for three vehicles, a shaded backyard, a large shed, and space for additional parking. Located at 142 Brooklyn Avenue in New Orleans, the property sits near the Orleans Parish line, the Mississippi River levee’s walking and biking path, and Ochsner’s Main Campus, with access to New Orleans, Elmwood, Metairie, shopping, dining, schools, hospitals, and major thoroughfares.
Key Highlights
- Three 1‑bedroom, 1‑bath units in a recently renovated triplex
- Renovated kitchens with granite countertops and new appliances
- Updated baths include custom showers
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
$20,323
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
8.47%
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%
$406,460
$406.5K
Cap Rate 7%
$290,329
$290.3K
Cap Rate 9%
$225,811
$225.8K
Market Conditions
NOI Build-Up for 1,605 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
$31.8K $19.80/SF
− Vacancy
−$2.7K −$1.71/SF
EGI
$29.0K $18.09/SF
− OpEx
−$8.7K −$5.43/SF
NOI
$20.3K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$406,460
Cap Rate 7%
$290,329
Cap Rate 9%
$225,811
Alternative Uses
Best Use
Multifamily LT 5
$290.3K
$254.0K – $338.7K
NOI $20,323 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$266.9K
$233.5K – $311.3K
NOI $18,680 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$407.9K
$357.0K – $475.9K
NOI $28,556 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,364
Businesses Nearby
Explore this area
Business Placement
Demographics for 70121, LA
11,523
Population
6,415
Households
1.8
Avg Household Size
46
Median Age
36%
College-Educated
88%
High-School Grad
3.3 sq mi
ZIP Area
3,492
Density / Sq Mi
$59,029
Median Household Income
$40,151
Median Earnings
$1,113
Median Rent
$237,200
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?
Triplex - Updated residences offer individual utility metering, off-street parking, and access to the Mississippi River levee path.
Where is this triplex located?
The property is located at 142 Brooklyn Avenue Jefferson, LA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bath units in a recently renovated triplex; Renovated kitchens with granite countertops and new appliances; Updated baths include custom showers
