Building Details

Year Built 2022

Year Renovated 2022

Listing Agency: Forte Realty, LLC

Listed By: Blaine Tatje · License #995712484 Show Phone

Source: Fiorellaavenue

Added: Aug 13 Changed: Oct 6 Last Checked: Oct 7 at 3:10PM

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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

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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%.

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 / Yr

$36,080

Cap Rate

5.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$721,600 $721.6K

Cap Rate 7%

$515,429 $515.4K

Cap Rate 9%

$400,889 $400.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,100 SF

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 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 (±1% cap)

NOI $36,080 @ 7.0% cap · market cap 5.77%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$787.9K

$689.4K – $919.2K (±1% cap)

NOI $55,154 @ 7.0% cap · market cap 8.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic Parking Lot & Garage Kitchen & Bath Showroom Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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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 $625,000.

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