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Audubon Park Investment Opportunity

209-211 Audubon Street New Orleans, LA 70118

209-211 Audubon Street, New Orleans, LA, 70118
$565,000
For Sale
$565,000

Multifamily property near Audubon Park with investment and owner-occupied potential.

Property Size3,055 SF
Price / SF$184.94
Days on Market69

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 Agency KELLER WILLIAMS REALTY 455-0100
Listed by Michael Kennedy · License #995718138
Source Compass
Added: May 10 Checked: Jul 16 at 7:35 am

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


Investment Insights

Based on property information with market context.

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.

Key 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.

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 (±1% cap)
NOI $38,684 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$508.0K
$444.5K – $592.6K (±1% cap)
NOI $35,557 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$776.5K
$679.4K – $905.9K (±1% cap)
NOI $54,354 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Grocery & Convenience Store Dental Office Kitchen & Bath Showroom Auto Repair Shop Big Box & Wholesale Store Parking Lot & Garage Pharmacy HVAC Service (Bike/Boat/Book/etc) Store Hair Salon

Zoning and permitted uses should be independently verified with local authorities.

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.
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