Renovated Multifamily Property in New
For Sale
$650,000
1905 FRANCE Street, New Orleans, LA 70117
MULTI_FAMILY - New Orleans, LA
Property Size3,100 SF
Price / SF$209.68
Days on Market181
Property Features for 1905 FRANCE Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Parking features
Assigned, Off Street
Exterior features
Fence
Fencing
Fenced
Lot features
Regular
Standard status
Active
APN
701171905FRANCESTC
Size
3,100 SF
Taxes and HOA fees
Tax Description
QS 941 OR 940 LOT C-1 56.86X109 1905 FRANCE ST
Legal Description
QS 941 OR 940 LOT C-1 56.86X109 1905 FRANCE ST
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
2022
Floors in Building
1
Number of units
6
Roof type
Shingle
Listing Agency:
Forte Realty, LLC
(504) 276-2668
Listed By:
Blaine Tatje · License #995712484
(504) 276-2668
Added: Jan 30
Changed: Jul 12
Last Checked: Jul 30 at 7:06PM
MLS# 2540785
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is a six-unit multifamily property renovated in 2022. The renovation focused on durability, efficiency, and ease of ownership. Major systems, including electrical, plumbing, roofing, siding, and complete interiors, were updated. Fire walls were added for safety. The property is fully leased and profitable, with a 9.97% Cash on Cash Return. Each unit features modern finishes and practical design choices. This turn-key asset offers a path to rental income in the New Orleans market. Each unit has an assigned parking space, as well as its own water meter and electric meter. There is no gas to the property. The property is located in New Orleans, LA 70117 and has a total size of 3100 square feet.
Key Highlights
- Like‑new six‑unit multifamily renovated in 2022, including electrical, plumbing, roofing, siding, and complete interiors
- Fire walls added for safety; updated major systems to help reduce ongoing maintenance and management
- Each 1BD/1BA unit has an assigned parking space plus its own water meter and electric meter
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 | $72.2k | $23.28 |
| − Vacancy | −$6.6k | −$2.12 |
| EGI | $65.6k | $21.16 |
| − OpEx | −$29.5k | −$9.52 |
| NOI | $36.1k | $11.64 |
3,100 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
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
Multi-tenant
Tenancy
Turnkey business
Opportunity
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 - Six-unit multifamily property renovated in 2022, fully leased and profitable.
Where is this apartment building located?
The property is located at 1905 FRANCE Street 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: Like‑new six‑unit multifamily renovated in 2022, including electrical, plumbing, roofing, siding, and complete interiors; Fire walls added for safety; updated major systems to help reduce ongoing maintenance and management; Each 1BD/1BA unit has an assigned parking space plus its own water meter and electric meter
