Modern Two-Unit
For Sale
$419,000
2425-27 Franklin Ave, New Orleans, LA 70117
Newly built duplex with two separate residences and one occupied unit.
Property Size2,745 SF
Price / SF$152.64
Days on Market92
Property Features for 2425-27 Franklin Ave
General Information
Standard status
Active
Size
2,745 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2024
Listing Agency:
REVE, REALTORS
Listed By:
Shontrell Guzman · License #995712285
(504) 300-0700
Source:
Fiorellaavenue
Added: Jul 21
Changed: Oct 16
Last Checked: Oct 7 at 2:42PM
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 REVE, REALTORS
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Investment Insights
Based on property information with market context.
Completed in 2024, this duplex contains two residences, each arranged with three bedrooms and two bathrooms. The interiors include open living areas, contemporary kitchens, updated bathrooms, and practical floor plans. The property encompasses 2,745 square feet at 2425-27 Franklin Ave in New Orleans.
One unit is occupied, while the second provides additional residential space. Restaurants, shopping, parks, and New Orleans attractions are located nearby. Appliances are excluded, and the property includes a one-year warranty. Showings of the occupied unit require 24 hours’ notice.
One unit is occupied, while the second provides additional residential space. Restaurants, shopping, parks, and New Orleans attractions are located nearby. Appliances are excluded, and the property includes a one-year warranty. Showings of the occupied unit require 24 hours’ notice.
Key Highlights
- Two‑unit duplex completed in 2024
- Each unit includes 3 bedrooms and 2 bathrooms
- 2,745 square feet across the duplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,759
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$695,180
$695.2K
Cap Rate 7%
$496,557
$496.6K
Cap Rate 9%
$386,211
$386.2K
Market Conditions
NOI Build-Up for 2,745 SF
Gross rent
$54.4K $19.80/SF
− Vacancy
−$4.7K −$1.71/SF
EGI
$49.7K $18.09/SF
− OpEx
−$14.9K −$5.43/SF
NOI
$34.8K $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%
$695,180
Cap Rate 7%
$496,557
Cap Rate 9%
$386,211
Alternative Uses
Best Use
Multifamily LT 5
$496.6K
$434.5K – $579.3K
NOI $34,759 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$456.4K
$399.4K – $532.5K
NOI $31,949 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$697.7K
$610.5K – $814.0K
NOI $48,838 @ 7.0% cap · market cap 11.66%
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
469
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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?
Duplex - Newly built duplex with two separate residences and one occupied unit.
Where is this duplex located?
The property is located at 2425-27 Franklin Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Two‑unit duplex completed in 2024; Each unit includes 3 bedrooms and 2 bathrooms; 2,745 square feet across the duplex
