Multifamily Portfolio with Renovated
For Sale
$1,750,000
2500 Freret St, New Orleans, LA 70113
Seven-building portfolio combines updated duplex properties with one building requiring comprehensive renovation.
Property Size9,694 SF
Price / SF$180.52
Days on Market483
Property Features for 2500 Freret St
General Information
Standard status
Active
Size
9,694 SF
Property subtype
Multifamily
Property Condition
Severity
Major Repairs Needed
Evidence
requiring a full renovation
Building Details
Buildings
7
Listing Agency:
REMAX Commercial Brokers, Inc
Listed By:
Cameron Lombardo · License #SALE.0995695512-ACT
(504) 838-0001
Source:
Lacdb.resimplifi
Added: Jun 25, 2025
Changed: Oct 10
Last Checked: Oct 19 at 3:27AM
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 REMAX Commercial Brokers, Inc
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Investment Insights
Based on property information with market context.
This New Orleans multifamily portfolio consists of seven buildings, including six renovated doubles with refreshed interiors and updated building systems. The remaining building requires a full renovation, creating a distinct repositioning component within the portfolio. The properties are located at 2500 Freret Street along the Freret Street corridor in New Orleans, an area identified in the source information as having experienced notable growth. The portfolio qualifies for HANO vouchers, supporting rental operations through government subsidy. The offering brings together renovated residential assets and a separate renovation project within one multifamily acquisition.
Key Highlights
- Six renovated doubles with updated interiors and building systems
- Seven‑building multifamily portfolio at 2500 Freret Street
- One building requires a full renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,750
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,455,000
$2.5M
Cap Rate 7%
$1,753,571
$1.8M
Cap Rate 9%
$1,363,889
$1.4M
Market Conditions
NOI Build-Up for 9,694 SF
Gross rent
$191.9K $19.80/SF
− Vacancy
−$16.6K −$1.71/SF
EGI
$175.4K $18.09/SF
− OpEx
−$52.6K −$5.43/SF
NOI
$122.8K $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%
$2,455,000
Cap Rate 7%
$1,753,571
Cap Rate 9%
$1,363,889
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.05M
NOI $122,750 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,827 @ 7.0% cap · market cap 6.45%
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.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
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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
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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?
Multifamily property - Seven-building portfolio combines updated duplex properties with one building requiring comprehensive renovation.
Where is this multifamily property located?
The property is located at 2500 Freret St 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 renovated doubles with updated interiors and building systems; Seven‑building multifamily portfolio at 2500 Freret Street; One building requires a full renovation
