Renovated Two-Unit
For Sale
$190,000
2649 51 Ap Tureaud Ave, New Orleans, LA 70119
Two-bedroom residences with included appliances, current occupancy, and separately metered tenant-paid electric and gas service.
Property Size1,416 SF
Price / SF$134.18
Days on Market62
Property Features for 2649 51 Ap Tureaud Ave
General Information
Standard status
Active
Size
1,416 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
in-unit washer/dryer
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Satsuma Property Management
Listed By:
Renae Berthelot · License #995707536
(504) 884-2718
Source:
Dominionplace
Added: Aug 19
Changed: Oct 8
Last Checked: Oct 7 at 3:49PM
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 Satsuma Property Management
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Investment Insights
Based on property information with market context.
This duplex contains two residences, each offering two bedrooms and one bathroom. The property underwent renovation in 2023 and includes vinyl flooring, updated interior and exterior paint, and owner-provided appliances in both units. Each side has a stove, refrigerator, washer, and dryer, all included with the sale. The building was constructed in 1940 and totals 1,416 square feet.
Both residences are occupied by HANO recipients, with tenants interested in remaining in place. Residents maintain the yard and pay their own electric and gas utilities, while water is delivered through one shared meter. Located at 2649 51 Ap Tureaud Ave in New Orleans, the property offers a two-unit residential income configuration with established occupancy and a defined utility arrangement.
Both residences are occupied by HANO recipients, with tenants interested in remaining in place. Residents maintain the yard and pay their own electric and gas utilities, while water is delivered through one shared meter. Located at 2649 51 Ap Tureaud Ave in New Orleans, the property offers a two-unit residential income configuration with established occupancy and a defined utility arrangement.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per residence
- Renovated in 2023 with vinyl flooring and fresh interior and exterior paint
- 1,416 square feet on a property built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,481
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,620
$329.6K
Cap Rate 7%
$235,443
$235.4K
Cap Rate 9%
$183,122
$183.1K
Market Conditions
NOI Build-Up for 1,416 SF
Gross rent
$33.0K $23.28/SF
− Vacancy
−$3.0K −$2.12/SF
EGI
$30.0K $21.16/SF
− OpEx
−$13.5K −$9.52/SF
NOI
$16.5K $11.64/SF
Area
ZIP 70119
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%
$329,620
Cap Rate 7%
$235,443
Cap Rate 9%
$183,122
Alternative Uses
Best Use
Multifamily LT 5
$256.1K
$224.1K – $298.8K
NOI $17,930 @ 7.0% cap · market cap 9.44%
Second Best
Apartment 5plus
$235.4K
$206.0K – $274.7K
NOI $16,481 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$370.5K
$324.2K – $432.3K
NOI $25,937 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
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Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Two-bedroom residences with included appliances, current occupancy, and separately metered tenant-paid electric and gas service.
Where is this duplex located?
The property is located at 2649 51 Ap Tureaud Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per residence; Renovated in 2023 with vinyl flooring and fresh interior and exterior paint; 1,416 square feet on a property built in 1940
