Apartment Building Portfolio with Six
For Sale
$1,750,000
2500-2522 Freret Street, New Orleans, LA 70113
Apartment building portfolio with six units, 100% leased, and recently renovated interiors and modern systems.
Days on Market53
Property Features for 2500-2522 Freret Street
General Information
Standard status
Active
Property subtype
Multi Family Home
Occupancy
100%
Building Details
Building Size
9,694 SF
Year Built
1905
Buildings
6
Listing Agency:
Re/Max Commercial Brokers, Inc.
(504) 915-8877
Listed By:
Richard Juge · License #BROK.31432.A-ACT
(504) 915-8877
Source:
Nolalivingrealty
Added: Jun 9
Changed: Jul 30
Last Checked: Jul 30 at 9:04PM
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 Re/Max Commercial Brokers, Inc.
Investment Insights
Based on property information with market context.
This apartment building portfolio consists of six (6) multifamily buildings. The portfolio is currently 100% leased. Built in 1905, the properties have recently been renovated with updated interiors, modern systems, and curb appeal improvements.
The buildings are located at 2500-2522 Freret Street in New Orleans, Louisiana 70113.
The portfolio configuration can support tenants seeking established apartment buildings with renovation-focused updates across the six-building group.
The buildings are located at 2500-2522 Freret Street in New Orleans, Louisiana 70113.
The portfolio configuration can support tenants seeking established apartment buildings with renovation-focused updates across the six-building group.
Key Highlights
- Six (6) apartment buildings in one portfolio
- Currently 100% leased
- Recently renovated with updated interiors
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $225.7k | $23.28 |
| − Vacancy | −$20.5k | −$2.12 |
| EGI | $205.1k | $21.16 |
| − OpEx | −$92.3k | −$9.52 |
| NOI | $112.8k | $11.64 |
9,694 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,827 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.16M – $2.87M
NOI $172,473 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,470
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?
Apartment building - Apartment building portfolio with six units, 100% leased, and recently renovated interiors and modern systems.
Where is this apartment building located?
The property is located at 2500-2522 Freret Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Six (6) apartment buildings in one portfolio; Currently 100% leased; Recently renovated with updated interiors
