New Orleans Multi-Family
1435 LESSEPS Street New Orleans, LA 70117
For Sale
$349,000
MULTI_FAMILY - New Orleans, LA
Property Size2,267 SF
Lot Size0.09 Acres
Price / SF$153.95
Days on Market198
Property Features for 1435 LESSEPS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Off Street, Driveway
Patio and Porch features
Porch
Exterior features
Fence, Porch
Fencing
Fenced
Standard status
Active
APN
39W309618
Size
2,267 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
AS PER TITLE
Utilities
Heating system
Other (Heating), Ductless (Heating), Central
Cooling system
Ductless, Central Air, Wall Unit(s)
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Galiano Realty
(504) 256-6311
Listed By:
Rachel Silvers · License #995694275
(504) 256-6311
Added: Jan 12
Changed: Jul 21
Last Checked: Jul 29 at 2:06AM
MLS# 2537423
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 new construction multi-family property is located in the Bywater neighborhood of New Orleans. The property includes a main unit with three bedrooms and 2.5 bathrooms, along with a bonus studio apartment. The main home features an open-concept living area with hardwood floors. The kitchen includes quartz countertops, a waterfall island, a dining area, and a coffee/wine bar nook. The primary en suite bathroom features a soaking tub, double vanity, and separate shower. Additional amenities include a laundry room and half bath. The separate studio efficiency features quartz counters, a walk-in closet, and a private bathroom. The property includes a front porch, yard, and off-street parking. The lot size is 0.0901 acres, and the property size is 2267 square feet. The studio offers flexible living or rental potential.
Key Highlights
- New construction built in 2023 with public water
- Main home features 3 bedrooms and 2.5 bathrooms with an open‑concept living area
- Chef‑style kitchen includes quartz countertops and a large waterfall island, plus a dining area
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.9k | $19.80 |
| − Vacancy | −$3.9k | −$1.71 |
| EGI | $41.0k | $18.09 |
| − OpEx | −$12.3k | −$5.43 |
| NOI | $28.7k | $12.66 |
2,267 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$410.1K
$358.8K – $478.4K
NOI $28,706 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$376.9K
$329.8K – $439.8K
NOI $26,385 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$576.2K
$504.2K – $672.2K
NOI $40,334 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - New construction multi-family property with bonus studio in vibrant neighborhood.
Where is this duplex located?
The property is located at 1435 LESSEPS Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: New construction built in 2023 with public water; Main home features 3 bedrooms and 2.5 bathrooms with an open‑concept living area; Chef‑style kitchen includes quartz countertops and a large waterfall island, plus a dining area
