16-Unit Apartment
New
For Sale
$999,000
2808 22 Josephine St, New Orleans, LA 70113
Four residential buildings offer studio and one-bedroom layouts, with four units currently available for occupancy.
Property Size6,600 SF
Price / SF$151.36
Days on Market4
Property Features for 2808 22 Josephine St
General Information
Standard status
Active
Size
6,600 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
16
Building Details
Year Built
1973
Buildings
4
Listing Agency:
Realtors- Loescher Properties
(504) 281-2232
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:36AM
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 Realtors- Loescher Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,600-square-foot apartment property comprises four separate buildings with four units in each. The residences include studio and one-bedroom layouts. Built in 1973, the property has 12 occupied apartments and four vacant units described as rent-ready. The rental offering includes affordable housing units with low-income rental subsidies.
Key Highlights
- 16 apartments across four buildings, with four units in each
- 6,600 square feet; built in 1973
- Studio and one‑bedroom unit layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,816
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,536,320
$1.5M
Cap Rate 7%
$1,097,371
$1.1M
Cap Rate 9%
$853,511
$853.5K
Market Conditions
NOI Build-Up for 6,600 SF
Gross rent
$153.6K $23.28/SF
− Vacancy
−$14.0K −$2.12/SF
EGI
$139.7K $21.16/SF
− OpEx
−$62.8K −$9.52/SF
NOI
$76.8K $11.64/SF
Area
New Orleans, LA
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%
$1,536,320
Cap Rate 7%
$1,097,371
Cap Rate 9%
$853,511
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$960.2K – $1.28M
NOI $76,816 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,425 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
2,251
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
Frequently Asked Questions
What type of property is this?
Apartment building - Four residential buildings offer studio and one-bedroom layouts, with four units currently available for occupancy.
Where is this apartment building located?
The property is located at 2808 22 Josephine St New Orleans, LA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 16 apartments across four buildings, with four units in each; 6,600 square feet; built in 1973; Studio and one‑bedroom unit layouts
