Multifamily
For Sale
$410,000
223 25 Alix St, New Orleans, LA 70114
Occupied multifamily asset offered subject to existing occupancy and as-is conditions.
Property Size2,150 SF
Price / SF$190.70
Days on Market96
Property Features for 223 25 Alix St
General Information
Standard status
Active
Size
2,150 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Algiers Point
Building Details
Year Built
1920
Listing Agency:
Audubon Realty, LLC
Listed By:
David Reso · License #B23827
(504) 616-6208
Source:
Fiorellaavenue
Added: Jul 21
Changed: Oct 11
Last Checked: Oct 23 at 10:49AM
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 Audubon Realty, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property was built in 1920 and is currently occupied. The asset is offered in as-is condition and remains subject to occupancy at closing.
Interior access is not available, and property inspections are not permitted. Prospective parties should not disturb occupants or trespass on the property. Bids are submitted through Auction.com under the stated auction terms.
Interior access is not available, and property inspections are not permitted. Prospective parties should not disturb occupants or trespass on the property. Bids are submitted through Auction.com under the stated auction terms.
Key Highlights
- Built in 1920
- Currently occupied
- Offered in as‑is condition subject to occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,023
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,460
$500.5K
Cap Rate 7%
$357,471
$357.5K
Cap Rate 9%
$278,033
$278.0K
Market Conditions
NOI Build-Up for 2,150 SF
Gross rent
$50.1K $23.28/SF
− Vacancy
−$4.6K −$2.12/SF
EGI
$45.5K $21.16/SF
− OpEx
−$20.5K −$9.52/SF
NOI
$25.0K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,460
Cap Rate 7%
$357,471
Cap Rate 9%
$278,033
Alternative Uses
Best Use
Apartment 5plus
$357.5K
$312.8K – $417.1K
NOI $25,023 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$546.5K
$478.2K – $637.5K
NOI $38,252 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Occupied multifamily asset offered subject to existing occupancy and as-is conditions.
Where is this multifamily property located?
The property is located at 223 25 Alix St New Orleans, LA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Built in 1920; Currently occupied; Offered in as‑is condition subject to occupancy
