Fairgrounds Income-Producing Multifamily Property

1516 GENTILLY Boulevard, New Orleans, LA 70119

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For Sale

$300,000

MULTI_FAMILY - New Orleans, LA

Property size:

1,904 SF

Lot size:

0.07 Acres

Price / SF:

$157/SF

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
Separate exterior staircase serves the upstairs unit, including studio‑style layout with its own kitchen, living/sleeping area, and full bath with a clawfoot tub
1946 cottage with central heat and central air, plus window units; roof is shingle
Fenced yard with a screened front porch and porch

We can help!

Listing Contact

Louis Williams

For Sale

$300,000

MULTI_FAMILY - New Orleans, LA

Property size:

1,904 SF

Lot size:

0.07 Acres

Price / SF:

$157/SF

Added:: May 28, 2026
Days on Market:: 16
Last Refresh:: Jun 12 at 1:06 am

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

We can help!

Listing Contact

Louis Williams

Listing agent Louis Williams License #73679

Listing office Keller Williams Realty Services 1522 W. Causeway Approach, Mandeville, LA

Listing date May 28, 2026

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.

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
Separate exterior staircase serves the upstairs unit, including studio‑style layout with its own kitchen, living/sleeping area, and full bath with a clawfoot tub
1946 cottage with central heat and central air, plus window units; roof is shingle
Fenced yard with a screened front porch and porch

Overview

This Fairgrounds investment opportunity features two dedicated units, totaling 4 bedrooms and 3 baths, within 1,904 square feet of flexible, income-producing space. The downstairs unit includes 3 bedrooms and 2 full baths, while the upstairs flat is a private 1 bedroom, 1 bath apartment with its own rear entrance, currently leased for $1,100 per month. The income potential is already built in, whether holding both units as rentals or living downstairs while the upper flat offsets the mortgage. The main level blends classic New Orleans character with comfortable living, featuring original wood floors, tall ceilings, and natural light as you step into a large living room that flows into the dining space. The kitchen offers solid wood cabinetry and a layout ready for personal upgrades. Three bedrooms make the downstairs unit ideal for long-term tenants, short-term uses, or an owner-occupant setup. Two full baths and a convenient laundry area complete the main level. The upper unit adds true investment value with a separate exterior staircase leading to a bright studio-style apartment with its own kitchen, living and sleeping area, and a full bath featuring a clawfoot tub. Outside, the fenced yard and the screened front porch give both units enjoyable outdoor space. Located just steps from the Fairgrounds and minutes from Bayou St. John, City Park, coffee shops, restaurants, and local markets, this property sits in a high-demand rental zone. The lot size is 0.0719 acres.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $24,109 @ 7.0% cap · market cap 8.04%

Second Best

Apartment 5plus

$316.6K

$277.0K – $369.3K (±1% cap)

NOI $22,160 @ 7.0% cap · market cap 7.39%

Theoretical Best

Office A

$498.2K

$435.9K – $581.3K (±1% cap)

NOI $34,875 @ 7.0% cap · market cap 11.63%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: New Orleans
County: Jefferson
State: Louisiana
Longitude: -90.077578
Latitude: 29.978849

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For sale
Duplexes
LA
New Orleans
70119
1516 GENTILLY Boulevard

What type of property is this?

Duplex - Two-unit property near Fairgrounds with flexible income potential.

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

1516 GENTILLY Boulevard, New Orleans, LA 70119

MULTI_FAMILY - New Orleans, LA

Property Features for 1516 GENTILLY Boulevard

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Canal Street Automotive Investment Opportunity

Mixed-Use Live/Work Building

Gutted Warehouse with Office

Historic Ground-Floor Office Space

Updated Duplex with Off-Street Parking

Turnkey New Construction Duplex

Uptown New Orleans Multi-Family Property

Historic Mixed-Use Building, New Orleans

Mixed-Use Commercial & Residential Property

Renovated Duplex in New Orleans

Restored Victorian Bed & Breakfast

Owner-Occupy Duplex with Sunroom

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