2-Unit New Construction
For Sale
$490,000
2119 Martin Luther King Jr Boulevard, New Orleans, LA 70113
Two matching residences feature modern kitchens, laundry hookups, and off-street parking.
Property Size2,667 SF
Price / SF$183.73
Days on Market93
Property Features for 2119 Martin Luther King Jr Boulevard
General Information
Standard status
Active
Size
2,667 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
in-unit laundry hook-ups
off-street parking
Building Details
Year Built
2023
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
Listed By:
Jessica Bordelon · License #995699315
(504) 535-4353
Source:
Fiorellaavenue
Added: Jul 20
Changed: Oct 10
Last Checked: Oct 19 at 10:53AM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
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Investment Insights
Based on property information with market context.
Completed in 2023, this 2,667-square-foot duplex contains two matching residences, each with three bedrooms and two bathrooms. The units use an open-concept layout with kitchens finished with quartz countertops and stainless appliances. Energy-efficient construction, in-unit laundry hookups, and off-street parking add practical features for residents and ongoing ownership.
The property is located at 2119 Martin Luther King Jr Boulevard in New Orleans, within a short walk of the CBD and Super Dome. The Warehouse District and Downtown New Orleans are also minutes away, placing the duplex near established employment, entertainment, and residential areas.
The property is located at 2119 Martin Luther King Jr Boulevard in New Orleans, within a short walk of the CBD and Super Dome. The Warehouse District and Downtown New Orleans are also minutes away, placing the duplex near established employment, entertainment, and residential areas.
Key Highlights
- 2023 construction with 2,667 SF of total property size
- Two identical 3‑bed/2‑bath units
- Open‑concept kitchens with quartz counters and stainless appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,771
Cap Rate
6.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,420
$675.4K
Cap Rate 7%
$482,443
$482.4K
Cap Rate 9%
$375,233
$375.2K
Market Conditions
NOI Build-Up for 2,667 SF
Gross rent
$52.8K $19.80/SF
− Vacancy
−$4.6K −$1.71/SF
EGI
$48.2K $18.09/SF
− OpEx
−$14.5K −$5.43/SF
NOI
$33.8K $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 Rate 5%
$675,420
Cap Rate 7%
$482,443
Cap Rate 9%
$375,233
Alternative Uses
Best Use
Multifamily LT 5
$482.4K
$422.1K – $562.9K
NOI $33,771 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$443.4K
$388.0K – $517.4K
NOI $31,041 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$677.9K
$593.1K – $790.8K
NOI $47,450 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,883
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences feature modern kitchens, laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 2119 Martin Luther King Jr Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 2023 construction with 2,667 SF of total property size; Two identical 3‑bed/2‑bath units; Open‑concept kitchens with quartz counters and stainless appliances
