Duplex with Leased Upper
1516 GENTILLY Boulevard New Orleans, LA 70119
1516 GENTILLY Boulevard, New Orleans, LA, 70119
$300,000
For Sale
$300,000
MULTI_FAMILY - New Orleans, LA
Property Size1,904 SF
Lot Size0.07 Acres
Price / SF$157.56
Days on Market51
Property Features for 1516 GENTILLY Boulevard
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Patio and Porch features
- Porch
- Exterior features
- Fence, Porch Screened In
- Fencing
- Fenced
- Standard status
- Active
- APN
- 37W300802
- Size
- 1,904 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Description
- SQ 1530 LOT Q GENTILLY BD 38 OVER 34 X 79 OVER 95
Utilities
- Heating system
- Central
- Cooling system
- Window Unit(s), Central Air
- Water source
- Public
Building Details
- Year built
- 1946
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Cottage
Listing Agency
Keller Williams Realty Services
(985) 727-7000
1522 W. Causeway Approach, Mandeville, LA
Listed by
Louis Williams · License #73679
(985) 727-7000
Added: May 28 Checked: Jul 17 at 5:06 am
MLS# 2560296
Listing URL
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 duplex provides two dedicated residential units with a total of 4 bedrooms and 3 bathrooms and approximately 1,904 square feet of flexible income-producing space. The downstairs unit features 3 bedrooms and 2 full baths, with a large living room flowing into the dining area. The kitchen includes solid wood cabinetry and the main level also includes a convenient laundry area.
The upstairs flat functions as a private 1-bedroom, 1-bath apartment with its own rear entrance. A separate exterior staircase provides access to the upper unit, which is currently leased. The upper layout is described as studio-style, with its own kitchen, living and sleeping area, and a full bath featuring a clawfoot tub.
Outside, the property includes a fenced yard and a screened front porch that provide shared outdoor space for both units.
The upstairs flat functions as a private 1-bedroom, 1-bath apartment with its own rear entrance. A separate exterior staircase provides access to the upper unit, which is currently leased. The upper layout is described as studio-style, with its own kitchen, living and sleeping area, and a full bath featuring a clawfoot tub.
Outside, the property includes a fenced yard and a screened front porch that provide shared outdoor space for both units.
Key Highlights
- Two dedicated units with 4 total bedrooms and 3 total baths in 1,904 SF of flexible income‑producing space
- Upstairs 1‑bedroom, 1‑bath flat has its own rear entrance and is leased for $1,100/month
- Downstairs unit features 3 bedrooms and 2 full baths with a large living room, dining space, and kitchen with solid wood cabinetry
Local 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 | $37.7k | $19.80 |
| − Vacancy | −$3.3k | −$1.71 |
| EGI | $34.4k | $18.09 |
| − OpEx | −$10.3k | −$5.43 |
| NOI | $24.1k | $12.66 |
1,904 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$344.4K
$301.4K – $401.8K
NOI $24,109 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$316.6K
$277.0K – $369.3K
NOI $22,160 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$498.2K
$435.9K – $581.3K
NOI $34,875 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex offers a leased upstairs 1-bedroom unit and a 3-bedroom, 2-bath main-level residence with a total of 1,904 sq. ft.
Where is this duplex located?
The property is located at 1516 GENTILLY Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two dedicated units with 4 total bedrooms and 3 total baths in 1,904 SF of flexible income‑producing space; Upstairs 1‑bedroom, 1‑bath flat has its own rear entrance and is leased for $1,100/month; Downstairs unit features 3 bedrooms and 2 full baths with a large living room, dining space, and kitchen with solid wood cabinetry
