Renovated Triplex with New
New
For Sale
$370,000
1936 Washington Ave, New Orleans, LA 70113
Renovated three-unit property near the Garden District with two units currently rented.
Property Size2,472 SF
Price / SF$149.68
Days on Market7
Property Features for 1936 Washington Ave
General Information
Standard status
Active
Size
2,472 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
CCS Realty
(504) 913-3992
Listed By:
Wayne Clark · License #099562605
Source:
Fiorellaavenue
Added: Aug 25
Changed: Aug 30
Last Checked: Aug 30 at 8:56PM
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 CCS Realty
Investment Insights
Based on property information with market context.
This 2472-square-foot triplex, built in 1950, was renovated in 2024 and includes a new roof. The layout combines one upper-level three-bedroom, two-bath unit with two lower-level one-bedroom, one-bath units. Two of the three units are currently rented, and the property was previously operated as a short-term rental.
The property is located three blocks from St. Charles Avenue, within walking distance of the historic Garden District, the Mardi Gras parade route, and the streetcar line. Downtown and the French Quarter are accessible from the property, providing proximity to major New Orleans destinations and transportation connections.
The property is located three blocks from St. Charles Avenue, within walking distance of the historic Garden District, the Mardi Gras parade route, and the streetcar line. Downtown and the French Quarter are accessible from the property, providing proximity to major New Orleans destinations and transportation connections.
Key Highlights
- Three‑unit triplex with one 3‑bedroom, 2‑bath upper unit and two 1‑bedroom, 1‑bath lower units
- 2472 square feet of property size
- Renovated in 2024 with a new roof
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
$31,302
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
8.46%
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%
$626,040
$626.0K
Cap Rate 7%
$447,171
$447.2K
Cap Rate 9%
$347,800
$347.8K
Market Conditions
NOI Build-Up for 2,472 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
$48.9K $19.80/SF
− Vacancy
−$4.2K −$1.71/SF
EGI
$44.7K $18.09/SF
− OpEx
−$13.4K −$5.43/SF
NOI
$31.3K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$626,040
Cap Rate 7%
$447,171
Cap Rate 9%
$347,800
Alternative Uses
Best Use
Multifamily LT 5
$447.2K
$391.3K – $521.7K
NOI $31,302 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$411.0K
$359.6K – $479.5K
NOI $28,771 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$628.3K
$549.8K – $733.0K
NOI $43,981 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 70113, LA
8,569
Population
5,512
Households
1.6
Avg Household Size
37
Median Age
27%
College-Educated
74%
High-School Grad
0.9 sq mi
ZIP Area
9,521
Density / Sq Mi
$36,897
Median Household Income
$31,126
Median Earnings
$960
Median Rent
$258,500
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?
Triplex - Renovated three-unit property near the Garden District with two units currently rented.
Where is this triplex located?
The property is located at 1936 Washington Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Three‑unit triplex with one 3‑bedroom, 2‑bath upper unit and two 1‑bedroom, 1‑bath lower units; 2472 square feet of property size; Renovated in 2024 with a new roof
