Triplex with Off-Street
For Sale
$745,000
Pending
2320-24 NASHVILLE Avenue, New Orleans, LA 70115
Multifamily, New Orleans, LA
Property Size4,828 SF
Days on Market61
Property Features for 2320-24 NASHVILLE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 7, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 4, Bedroom 8, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 6
Parking
3
Patio and Porch features
Porch
Standard status
Pending
APN
615107503
Size
4,828 SF
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Description
HURSTVILLE SQ 85 LOTS 5 6 PT 16-17 NASH 60 X 130 2320-24 NASHVILLE 3-PLEX-W
Legal Description
HURSTVILLE SQ 85 LOTS 5 6 PT 16-17 NASH 60 X 130 2320-24 NASHVILLE 3-PLEX-W
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
courtyard
off-street parking
washer/dryer
Building Details
Year built
1921
Number of units
3
Building materials
HardiPlank Type, Wood Siding
Architectural style
Other
Buildings
1
Listing Agency:
McEnery Residential, LLC (MCEN02)
(504) 605-4400
Listed By:
Rebecca T Waxman · License #995706680
(504) 261-6867
Added: Aug 24
Changed: Oct 23
Last Checked: Oct 23 at 11:06PM
MLS# 2572863
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,828-square-foot triplex contains three residences. The ground-floor unit has four bedrooms, two bathrooms, hardwood flooring, and substantial storage. Each of the two upper units has two bedrooms, one bathroom, and an enclosed front porch; those units were renovated in 2015 and 2022, with updated cabinetry, stainless steel appliances, and granite counters. All three residences have their own washer and dryer and separate utility meters. Central HVAC systems were updated within the past six years, and the property has two tankless water heaters.
The property sits on a double lot in New Orleans, with off-street parking on both sides and a courtyard. Public water and sewer service the property, and natural gas is available.
The property sits on a double lot in New Orleans, with off-street parking on both sides and a courtyard. Public water and sewer service the property, and natural gas is available.
Key Highlights
- Three‑unit property totaling 4,828 square feet
- Unit mix: one 4‑bedroom, 2‑bath residence and two 2‑bedroom, 1‑bath residences
- Upper units renovated in 2015 and 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,497
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$829,940
$829.9K
Cap Rate 7%
$592,814
$592.8K
Cap Rate 9%
$461,078
$461.1K
Market Conditions
NOI Build-Up for 4,828 SF
Gross rent
$64.9K $13.44/SF
− Vacancy
−$5.6K −$1.16/SF
EGI
$59.3K $12.28/SF
− OpEx
−$17.8K −$3.68/SF
NOI
$41.5K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$829,940
Cap Rate 7%
$592,814
Cap Rate 9%
$461,078
Alternative Uses
Best Use
Multifamily LT 5
$592.8K
$518.7K – $691.6K
NOI $41,497 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$525.5K
$459.8K – $613.1K
NOI $36,786 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,164 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,657
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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?
Triplex - Three separately metered residences have private laundry and central heating and cooling.
Where is this triplex located?
The property is located at 2320-24 NASHVILLE Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Three‑unit property totaling 4,828 square feet; Unit mix: one 4‑bedroom, 2‑bath residence and two 2‑bedroom, 1‑bath residences; Upper units renovated in 2015 and 2022
