Five-Unit Apartment
1806 N Robertson Street, New Orleans, LA 70116
For Sale
$615,000
A corner-lot property combines four apartments with a separate rear residence.
Property Size3,672 SF
Price / SF$167.48
Days on Market163
Property Features for 1806 N Robertson Street
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Axis Realty Group LLC
(504) 336-3000
Listed By:
Amanda L Lewis · License LA #995697313
(504) 410-5185
Source:
Donaldjulienrealestate
Added: Jun 5
Changed: Nov 11
Last Checked: Nov 13 at 5:53PM
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 Axis Realty Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,672-square-foot apartment property has four units in its main building and a detached residence at the rear, for five units overall. The main building’s mix includes two one-bedroom, one-bath apartments, one three-bedroom, two-bath apartment, and one two-bedroom, one-bath apartment. The rear structure has two bedrooms and one bath and was recently updated with new sheetrock, a bathroom, and flooring. Unit C has a new HVAC system; three units have central air conditioning and heat. Ceramic tile and carpet are present in the units, and the roof was replaced in 2021.
The property occupies a corner lot on N Robertson Street in New Orleans. It is in the X flood zone and is currently fully rented.
The property occupies a corner lot on N Robertson Street in New Orleans. It is in the X flood zone and is currently fully rented.
Key Highlights
- Five units: four apartments plus a detached two‑bedroom, one‑bath residence
- 3,672‑square‑foot property on a corner lot
- Main building mix includes two 1‑bedroom, 1‑bath units, one 3‑bedroom, 2‑bath unit, and one 2‑bedroom, 1‑bath unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,738
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,760
$854.8K
Cap Rate 7%
$610,543
$610.5K
Cap Rate 9%
$474,867
$474.9K
Market Conditions
NOI Build-Up for 3,672 SF
Gross rent
$85.5K $23.28/SF
− Vacancy
−$7.8K −$2.12/SF
EGI
$77.7K $21.16/SF
− OpEx
−$35.0K −$9.52/SF
NOI
$42.7K $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 Rate 5%
$854,760
Cap Rate 7%
$610,543
Cap Rate 9%
$474,867
Alternative Uses
Best Use
Apartment 5plus
$610.5K
$534.2K – $712.3K
NOI $42,738 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$933.3K
$816.6K – $1.09M
NOI $65,331 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in New Orleans, LA
Properties on Market for Apartment buildings in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A corner-lot property combines four apartments with a separate rear residence.
Where is this apartment building located?
The property is located at 1806 N Robertson Street New Orleans, LA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Five units: four apartments plus a detached two‑bedroom, one‑bath residence; 3,672‑square‑foot property on a corner lot; Main building mix includes two 1‑bedroom, 1‑bath units, one 3‑bedroom, 2‑bath unit, and one 2‑bedroom, 1‑bath unit
