Spacious Multifamily Property on Large
1612-14 South Carrollton Avenue New Orleans, LA 70118
For Sale
$850,000
Pending
Renovation opportunity: spacious units, large lot, flexible configuration.
Property Size5,015 SF
Lot Size0.24 Acres
Days on Market210
Property Features for 1612-14 South Carrollton Avenue
General Information
- Standard status
- Pending
- Size
- 5,015 SF
- Lot size
- 0.24 Acres
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1920
Listing Agency:
New Orleans Property Services, LLC
(504) 473-5969
Listed By:
Kari Ayala · License #099563466
(504) 473-5969
Source:
Compass
Added: Dec 26, 2025
Changed: Jul 10
Last Checked: Jul 24 at 12:15PM
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 New Orleans Property Services, LLC
Investment Insights
Based on property information with market context.
This multifamily property presents a renovation opportunity on a large 60 x 175 ft lot. The property offers spacious, modern units that can be configured as either 3 or 4 bedrooms. This flexibility makes it suitable for owner-occupancy or dual-income rental strategies. Conversion to a single-family home is also a possibility. The property requires a new roof, wood repair on the exterior, a paint job, plumbing and electrical upgrades, and some foundation repairs typical of 100-year-old homes in New Orleans. The property size is 5015 square feet. It is located in an exceptional location. Bond for Deed or 1031 exchange options may be available.
Key Highlights
- Rare and expansive 60 x 175 ft lot.
- Flexible unit configuration: convert to single family home or configure as 3 or 4 bedrooms per unit.
- Dual‑income rental strategy potential.
Financial Insights For Apartment 5plus
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 | $116.7k | $23.28 |
| − Vacancy | −$10.6k | −$2.12 |
| EGI | $106.1k | $21.16 |
| − OpEx | −$47.8k | −$9.52 |
| NOI | $58.4k | $11.64 |
5,015 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$833.8K
$729.6K – $972.8K
NOI $58,369 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.12M – $1.49M
NOI $89,225 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Renovation opportunity: spacious units, large lot, flexible configuration.
Where is this multifamily property located?
The property is located at 1612-14 South Carrollton Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Rare and expansive 60 x 175 ft lot.; Flexible unit configuration: convert to single family home or configure as 3 or 4 bedrooms per unit.; Dual‑income rental strategy potential.
