Corner-Lot
For Sale
$1,050,000
1502 GENERAL PERSHING Street, New Orleans, LA 70115
Multifamily, New Orleans, LA
Property Size4,173 SF
Price / SF$251.62
Days on Market70
Property Features for 1502 GENERAL PERSHING Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 2, Bedroom 1
Parking
3
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Lot features
Corner Lot
Elementary school
SACRED HEART
Middle school
WILLOW, MAGEE
High school
NEWMAN
Directions
1 BLOCK TO ST CHARLES AND 1 BLOCK TO NAPOLEON AVE
Standard status
Active
APN
1502-GENPERSHINGST
Size
4,173 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
SQ 387 LOT A GEN PERSHING AND 4301 PITT 50X100 S-RAISED-W-W/APT FILE #74857 9/96
Legal Description
SQ 387 LOT A GEN PERSHING AND 4301 PITT 50X100 S-RAISED-W-W/APT FILE #74857 9/96
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
front porch
back porch
big backyard
Building Details
Year built
1940
Number of units
3
Building materials
Wood Siding
Buildings
1
Listing Agency:
Berkshire Hathaway HS - Garden District/Uptown · Berkshire Hathaway HomeServices
(504) 799-1702
Listed By:
Charlotte H Dorion · License #000044739
(504) 237-8615
Added: Aug 16
Changed: Oct 23
Last Checked: Oct 24 at 3:06PM
MLS# 2571822
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.
This 4,173-square-foot triplex, built in 1940, has two apartments on the lower level and an owner’s residence above. Each apartment contains two bedrooms and one bathroom; one also includes a bonus room. The upper residence features a foyer, living and dining rooms, a kitchen with an island and breakfast area, and three bedrooms, including one currently used as an office. Front and rear porches and a backyard provide additional outdoor areas.
The building occupies a corner lot one block from St. Charles Avenue and Napoleon Avenue. Superior Seafood Restaurant, The Chloe Hotel’s bar and restaurant, and Fat Harry’s are identified nearby. Streetcar service connects the area with Audubon Park and Zoo, the French Quarter, the CBD, and downtown New Orleans.
The building occupies a corner lot one block from St. Charles Avenue and Napoleon Avenue. Superior Seafood Restaurant, The Chloe Hotel’s bar and restaurant, and Fat Harry’s are identified nearby. Streetcar service connects the area with Audubon Park and Zoo, the French Quarter, the CBD, and downtown New Orleans.
Key Highlights
- 4,173‑square‑foot triplex built in 1940
- Two lower‑level apartments, each with 2 bedrooms and 1 bathroom
- One apartment includes a bonus room; the other has a gated porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,868
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,360
$717.4K
Cap Rate 7%
$512,400
$512.4K
Cap Rate 9%
$398,533
$398.5K
Market Conditions
NOI Build-Up for 4,173 SF
Gross rent
$56.1K $13.44/SF
− Vacancy
−$4.8K −$1.16/SF
EGI
$51.2K $12.28/SF
− OpEx
−$15.4K −$3.68/SF
NOI
$35.9K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,360
Cap Rate 7%
$512,400
Cap Rate 9%
$398,533
Alternative Uses
Best Use
Multifamily LT 5
$512.4K
$448.4K – $597.8K
NOI $35,868 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$454.2K
$397.4K – $529.9K
NOI $31,795 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$1.10M
$963.3K – $1.28M
NOI $77,067 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,841
Businesses Nearby
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Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The property combines two leased apartments with a separate upper-level owner’s residence.
Where is this triplex located?
The property is located at 1502 GENERAL PERSHING Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 4,173‑square‑foot triplex built in 1940; Two lower‑level apartments, each with 2 bedrooms and 1 bathroom; One apartment includes a bonus room; the other has a gated porch
