Two-Unit Corner-Lot
1603 Gentilly Boulevard, New Orleans, LA 70119
For Sale
$225,000
Both residences are occupied, with advance notice required to arrange a showing.
Property Size1,575 SF
Price / SF$142.86
Days on Market51
Property Features for 1603 Gentilly Boulevard
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Units
Listing Agency:
Valmont Realtors
(504) 525-3067
Listed By:
Kristen C Koppel · License LA #995687860
(504) 613-7948
Source:
Donaldjulienrealestate
Added: Sep 25
Changed: Nov 7
Last Checked: Nov 13 at 7:20PM
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 Valmont Realtors
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Investment Insights
Based on property information with market context.
Built in 2010, this duplex contains 1,575 square feet across two residences. Each unit has one bedroom and one bathroom. The property occupies a corner lot, two blocks from the Fair Grounds in New Orleans.
Both units are currently occupied, and showings require advance notice.
Both units are currently occupied, and showings require advance notice.
Key Highlights
- Two units, each with 1 bedroom and 1 bathroom
- 1,575 square feet total
- Built in 2010
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,943
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,860
$398.9K
Cap Rate 7%
$284,900
$284.9K
Cap Rate 9%
$221,589
$221.6K
Market Conditions
NOI Build-Up for 1,575 SF
Gross rent
$31.2K $19.80/SF
− Vacancy
−$2.7K −$1.71/SF
EGI
$28.5K $18.09/SF
− OpEx
−$8.5K −$5.43/SF
NOI
$19.9K $12.66/SF
Area
ZIP 70119
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 Rate 5%
$398,860
Cap Rate 7%
$284,900
Cap Rate 9%
$221,589
Alternative Uses
Best Use
Multifamily LT 5
$284.9K
$249.3K – $332.4K
NOI $19,943 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$261.9K
$229.1K – $305.5K
NOI $18,331 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$412.1K
$360.6K – $480.8K
NOI $28,849 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in New Orleans, LA
Properties on Market for Duplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with advance notice required to arrange a showing.
Where is this duplex located?
The property is located at 1603 Gentilly Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two units, each with 1 bedroom and 1 bathroom; 1,575 square feet total; Built in 2010
