University Area Multifamily
2108 Broadway Street New Orleans, LA 70118
2108 Broadway Street, New Orleans, LA, 70118
$1,350,000
For Sale
$1,350,000
Multi-family property near Tulane and Loyola Universities.
Property Size6,659 SF
Price / SF$202.73
Days on Market127
Property Features for 2108 Broadway Street
General Information
- Standard status
- Active
- Size
- 6,659 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1920
Listing Agency
The McEnery Company
(318) 218-4860
Listed by
Scott Weston · License #995684661
(318) 218-4860
Source
Compass
Added: Mar 13 Checked: Jul 17 at 4:31 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 The McEnery Company
Investment Insights
Based on property information with market context.
The multi-family property at 2108 Broadway Street is located in the University neighborhood of New Orleans, within walking distance of Tulane and Loyola Universities, and St. Charles Avenue. The property consists of 9 units. Select units feature hardwood floors, high ceilings, and private balconies. Updated kitchens, bathrooms, and HVAC systems are present. Off-street parking is available. The building offers a stable cash flow with potential for rent growth. It is located near retail and dining options. The property has a classic style while preserving its historic charm. The property size is 6659 square feet. It is suitable for investors seeking steady returns in a high-demand market.
Key Highlights
- Stable cash flow with potential for rent growth in a high‑demand University neighborhood.
- Located within walking distance of Tulane and Loyola Universities and St. Charles Avenue.
- Multi‑family property consisting of 9 units generating a robust income stream.
Local 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 | $155.0k | $23.28 |
| − Vacancy | −$14.1k | −$2.12 |
| EGI | $140.9k | $21.16 |
| − OpEx | −$63.4k | −$9.52 |
| NOI | $77.5k | $11.64 |
6,659 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$968.8K – $1.29M
NOI $77,503 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,475 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
2108 Broadway, managed ...
Apartment Building
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FAQs
What type of property is this?
Apartment building - Multi-family property near Tulane and Loyola Universities.
Where is this apartment building located?
The property is located at 2108 Broadway Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Stable cash flow with potential for rent growth in a high‑demand University neighborhood.; Located within walking distance of Tulane and Loyola Universities and St. Charles Avenue.; Multi‑family property consisting of 9 units generating a robust income stream.
