Audubon Park Investment
209-211 Audubon Street, New Orleans, LA 70118
Multifamily property near Audubon Park with investment and owner-occupied potential.
Type:MULTI FAMILY FOR SALE / Townhouse
Property size:
3,055 SFPrice / SF:
$184/SF- Added:
- May 17, 2026
- Days on Market:
- 17
- Last Refresh:
- May 27 at 1:17 pm
Property Features for 209-211 Audubon Street
General Information
- Standard status
- Active
- Size
- 3,055 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1940
Listing agent Michael Kennedy License #995718138 (504) 616-7625
Listing office KELLER WILLIAMS REALTY 455-0100 (504) 616-7625
Listing date May 17, 2026
Source Compass
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 KELLER WILLIAMS REALTY 455-0100
HighLights
- Prime Location: Steps from Audubon Park and Magazine Street, near the zoo, farmer's market, and Mississippi River.
- Investment/Owner‑Occupied Flexibility: Opportunity for immediate rental income with a long‑term tenant, potential for multiple units, or a large owner's unit.
- Off‑Street Parking & Two Garages: Rare and valuable amenity in a walkable neighborhood.
- Elevated Decks: Private outdoor retreats facing Audubon Park.
- Vacant Units with Fresh Paint: Ready for immediate occupancy or rental.
- Potential for Four Separate Units: First floor can be separated into two apartments.
Overview
Located in the sought-after Audubon Park neighborhood of New Orleans, this multifamily property offers an investment or owner-occupied opportunity. The property is situated steps from the park and Magazine Street, and in proximity to the zoo, farmer's market, and the batture, with views of the Mississippi River. Each upstairs unit features an elevated deck facing Audubon Park, providing a private outdoor retreat. Additional amenities include off-street parking and two separate garages in a walkable neighborhood. Both upstairs unit 209 and the entire downstairs are vacant and freshly painted. Unit 211 upstairs has a long-term tenant for immediate income. The first floor can be optionally separated into two apartments, creating four separate units. Alternatively, the 209 upstairs unit could be combined with the downstairs side to create a large two-story unit. The property size is 3055 square feet.
Local Financial Insights For Multifamily LT 5
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 | $60.5k | $19.80 |
| − Vacancy | −$5.2k | −$1.71 |
| EGI | $55.3k | $18.09 |
| − OpEx | −$16.6k | −$5.43 |
| NOI | $38.7k | $12.66 |
3,055 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$552.6K
$483.6K – $644.7K
NOI $38,684 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$508.0K
$444.5K – $592.6K
NOI $35,557 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$776.5K
$679.4K – $905.9K
NOI $54,354 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.1329423
- Latitude
- 29.9278895
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Multifamily property near Audubon Park with investment and owner-occupied potential.
Where is this triplex located?
The property is located at 209-211 Audubon Street New Orleans, LA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Prime Location: Steps from Audubon Park and Magazine Street, near the zoo, farmer's market, and Mississippi River.; Investment/Owner‑Occupied Flexibility: Opportunity for immediate rental income with a long‑term tenant, potential for multiple units, or a large owner's unit.; Off‑Street Parking & Two Garages: Rare and valuable amenity in a walkable neighborhood.
