24-Unit Apartment
For Sale
$2,995,000
1710 S Carrollton Ave, New Orleans, LA 70118
Apartment property offering one-bedroom and studio layouts with coin-operated laundry on-site.
Property Size15,078 SF
Price / SF$198.63
Days on Market70
Property Features for 1710 S Carrollton Ave
General Information
Standard status
Active
Size
15,078 SF
Units
Unit Mix
20 x 1BR/1BA, 4 x studio
Multifamily Units
24
Additional Details
Public Transit
Yes
Amenities
coin-operated laundry
Building Details
Year Built
1922
Buildings
1
Listing Agency:
RE/MAX N.O. Properties
Listed By:
John Rareshide · License #000015172
(504) 343-1698
Source:
Fiorellaavenue
Added: Jun 25
Changed: Aug 30
Last Checked: Sep 1 at 10:33PM
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 RE/MAX N.O. Properties
Investment Insights
Based on property information with market context.
Built in 1922, this apartment building at 1710 S Carrollton Avenue includes 24 residential units arranged as 20 one-bedroom, one-bath apartments and 4 studios. Coin-operated laundry facilities are available on-site, adding a practical shared amenity for residents.
The property sits along the New Orleans streetcar route in the Uptown/University neighborhood. Its location provides streetcar access toward Tulane, Loyola, and Audubon Park, placing the building within a transit-connected residential setting. The combination of established construction, varied unit layouts, and on-site laundry creates a clearly defined multifamily configuration.
The property sits along the New Orleans streetcar route in the Uptown/University neighborhood. Its location provides streetcar access toward Tulane, Loyola, and Audubon Park, placing the building within a transit-connected residential setting. The combination of established construction, varied unit layouts, and on-site laundry creates a clearly defined multifamily configuration.
Key Highlights
- 24‑unit apartment building built in 1922
- 20 one‑bedroom/one‑bath units and 4 studios
- Coin‑operated laundry facilities on‑site
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$175,490
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,509,800
$3.5M
Cap Rate 7%
$2,507,000
$2.5M
Cap Rate 9%
$1,949,889
$1.9M
Market Conditions
NOI Build-Up for 15,078 SF
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.
Gross rent
$351.0K $23.28/SF
− Vacancy
−$31.9K −$2.12/SF
EGI
$319.1K $21.16/SF
− OpEx
−$143.6K −$9.52/SF
NOI
$175.5K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,509,800
Cap Rate 7%
$2,507,000
Cap Rate 9%
$1,949,889
Alternative Uses
Best Use
Apartment 5plus
$2.51M
$2.19M – $2.92M
NOI $175,490 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,263 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
1,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property offering one-bedroom and studio layouts with coin-operated laundry on-site.
Where is this apartment building located?
The property is located at 1710 S Carrollton Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 24‑unit apartment building built in 1922; 20 one‑bedroom/one‑bath units and 4 studios; Coin‑operated laundry facilities on‑site
