Six-Unit Multifamily
For Sale
$650,000
1905 France St, New Orleans, LA 70117
Renovated rental property with separately metered utilities, assigned parking, and fully leased one-bedroom units.
Property Size3,100 SF
Price / SF$209.68
Days on Market22
Property Features for 1905 France St
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
6 x 1BD/1BA
Multifamily Units
6
Parking per Unit
1
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2022
Year Renovated
2022
Listing Agency:
Forte Realty, LLC
Listed By:
Blaine Tatje · License #995712484
(504) 293-2460
Source:
Fiorellaavenue
Added: Aug 13
Changed: Aug 31
Last Checked: Sep 1 at 10:02PM
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 Forte Realty, LLC
Investment Insights
Based on property information with market context.
Located at 1905 France St in New Orleans, this 3,100 SF multifamily property contains six one-bedroom, one-bath units. The interiors and major building systems were renovated in 2022, including electrical, plumbing, roofing, siding, and interior finishes. Fire walls were also added, and the units feature modern finishes with practical layouts.
Each apartment has one assigned parking space plus separate water and electric meters. The property has no gas service. All six units are fully leased, and the reported cash-on-cash return is 9.97%.
Each apartment has one assigned parking space plus separate water and electric meters. The property has no gas service. All six units are fully leased, and the reported cash-on-cash return is 9.97%.
Key Highlights
- Six 1BD/1BA units within a 3,100 SF multifamily property
- Renovated in 2022 with updated electrical, plumbing, roofing, siding, and interiors
- Fully leased with a reported 9.97% cash‑on‑cash return
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
$36,080
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
5.55%
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%
$721,600
$721.6K
Cap Rate 7%
$515,429
$515.4K
Cap Rate 9%
$400,889
$400.9K
Market Conditions
NOI Build-Up for 3,100 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
$72.2K $23.28/SF
− Vacancy
−$6.6K −$2.12/SF
EGI
$65.6K $21.16/SF
− OpEx
−$29.5K −$9.52/SF
NOI
$36.1K $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%
$721,600
Cap Rate 7%
$515,429
Cap Rate 9%
$400,889
Alternative Uses
Best Use
Apartment 5plus
$515.4K
$451.0K – $601.3K
NOI $36,080 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$787.9K
$689.4K – $919.2K
NOI $55,154 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Renovated rental property with separately metered utilities, assigned parking, and fully leased one-bedroom units.
Where is this apartment building located?
The property is located at 1905 France St New Orleans, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Six 1BD/1BA units within a 3,100 SF multifamily property; Renovated in 2022 with updated electrical, plumbing, roofing, siding, and interiors; Fully leased with a reported 9.97% cash‑on‑cash return
