Multifamily
For Sale
$239,000
2749 51 Saint Peter St, New Orleans, LA 70119
Supports owner occupancy, long-term rental use, and potential short-term rental use subject to local requirements.
Property Size1,303 SF
Price / SF$183.42
Days on Market74
Property Features for 2749 51 Saint Peter St
General Information
Standard status
Active
Size
1,303 SF
Property subtype
Multi-Family
Building Details
Year Built
1940
Listing Agency:
Homesmart Realty South
Listed By:
Susan Tiblier · License #000005548
(504) 259-0954
Source:
Dominionplace
Added: Jul 26
Changed: Oct 3
Last Checked: Oct 7 at 1:01PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
Located at 2749 51 Saint Peter St in New Orleans, this multifamily property was built in 1940 and offers a residential asset with multiple possible operating approaches. The property information identifies owner occupancy and long-term rental use among the options under consideration, while short-term rental use remains subject to local zoning and regulatory requirements.
The property is situated in New Orleans, with dining, entertainment, shopping, and cultural attractions described in the surrounding area. Buyers evaluating short-term rental plans should independently confirm applicable city requirements before proceeding.
The property is situated in New Orleans, with dining, entertainment, shopping, and cultural attractions described in the surrounding area. Buyers evaluating short-term rental plans should independently confirm applicable city requirements before proceeding.
Key Highlights
- Multifamily property at 2749 51 Saint Peter St, New Orleans, LA 70119
- Built in 1940
- Owner occupancy is identified as a potential use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,165
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,300
$303.3K
Cap Rate 7%
$216,643
$216.6K
Cap Rate 9%
$168,500
$168.5K
Market Conditions
NOI Build-Up for 1,303 SF
Gross rent
$30.3K $23.28/SF
− Vacancy
−$2.8K −$2.12/SF
EGI
$27.6K $21.16/SF
− OpEx
−$12.4K −$9.52/SF
NOI
$15.2K $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%
$303,300
Cap Rate 7%
$216,643
Cap Rate 9%
$168,500
Alternative Uses
Best Use
Apartment 5plus
$216.6K
$189.6K – $252.8K
NOI $15,165 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$341.0K
$298.3K – $397.8K
NOI $23,867 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,890
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Supports owner occupancy, long-term rental use, and potential short-term rental use subject to local requirements.
Where is this multifamily property located?
The property is located at 2749 51 Saint Peter St New Orleans, LA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Multifamily property at 2749 51 Saint Peter St, New Orleans, LA 70119; Built in 1940; Owner occupancy is identified as a potential use
