Triplex with Bonus
For Sale
$785,000
2125 27 Simon Bolivar Ave, New Orleans, LA 70113
Multi-unit property with historic architectural details and an additional lot for off-street parking.
Property Size3,023 SF
Price / SF$259.68
Days on Market13
Property Features for 2125 27 Simon Bolivar Ave
General Information
Standard status
Active
Size
3,023 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Amenities
soaring ceilings
original wood floors
pocket doors
antique chandeliers
European artwork
vintage furniture
decorative fireplaces
classic front porch
off-street parking
Building Details
Year Built
1945
Listing Agency:
Broussard Realty Pros
(504) 358-9428
Listed By:
Amanda Broussard · License #995702790
Source:
Dominionplace
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 29 at 11:43AM
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 Broussard Realty Pros
Investment Insights
Based on property information with market context.
This triplex combines a double and a rear unit within 3023 square feet, offering 9 bedrooms and 5 full baths. The 1945 property retains distinctive New Orleans character, including high ceilings, original wood flooring, pocket doors, decorative fireplaces, wrought-iron detailing, a front porch, antique chandeliers, European artwork, and vintage furnishings. The property was previously operated as an Airbnb.
Located at 2125–2127 Simon Bolivar Avenue in New Orleans, the property is steps from a bus line and six blocks from the streetcar. Mardi Gras parade routes, local restaurants, and neighborhood cafés are also identified in the surrounding area. A bonus lot provides off-street parking, and the property is in Flood Zone X.
Located at 2125–2127 Simon Bolivar Avenue in New Orleans, the property is steps from a bus line and six blocks from the streetcar. Mardi Gras parade routes, local restaurants, and neighborhood cafés are also identified in the surrounding area. A bonus lot provides off-street parking, and the property is in Flood Zone X.
Key Highlights
- 3023‑square‑foot triplex with 9 bedrooms and 5 full baths
- Double plus rear unit configuration at 2125–2127 Simon Bolivar Avenue
- 1945 property with original wood floors, pocket doors, and decorative fireplaces
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
$38,279
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
4.88%
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%
$765,580
$765.6K
Cap Rate 7%
$546,843
$546.8K
Cap Rate 9%
$425,322
$425.3K
Market Conditions
NOI Build-Up for 3,023 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
$59.9K $19.80/SF
− Vacancy
−$5.2K −$1.71/SF
EGI
$54.7K $18.09/SF
− OpEx
−$16.4K −$5.43/SF
NOI
$38.3K $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%
$765,580
Cap Rate 7%
$546,843
Cap Rate 9%
$425,322
Alternative Uses
Best Use
Multifamily LT 5
$546.8K
$478.5K – $638.0K
NOI $38,279 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$502.6K
$439.8K – $586.4K
NOI $35,184 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$768.3K
$672.3K – $896.4K
NOI $53,784 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,501
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 - Multi-unit property with historic architectural details and an additional lot for off-street parking.
Where is this triplex located?
The property is located at 2125 27 Simon Bolivar Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: 3023‑square‑foot triplex with 9 bedrooms and 5 full baths; Double plus rear unit configuration at 2125–2127 Simon Bolivar Avenue; 1945 property with original wood floors, pocket doors, and decorative fireplaces
