Duplex with Vacant-Lot
For Sale
$375,000
2817 23 UPPERLINE Street, New Orleans, LA 70115
The property pairs a raised-basement double requiring full renovation with a separate vacant lot.
Property Size2,314 SF
Lot Size0.30 Acres
Price / SF$162.06
Days on Market222
Property Features for 2817 23 UPPERLINE Street
General Information
Standard status
Active
Size
2,314 SF
Lot size
0.30 Acres
Property subtype
Duplex
Property Condition
Severity
Major Repairs Needed
Evidence
needs a full RENOVATION
Site & Location
Neighborhood
Freret
Road Frontage
60 ft
Road Access
Yes
Additional Details
Tenant in Place
Yes
Building Details
Building Size
2,314 SF
Year Built
1920
Buildings
1
Listing Agency:
eXp Realty, LLC
Listed By:
Michael Humphrey · License #995707327
(504) 415-5559
Source:
Joliburrell
Added: Mar 24
Changed: Oct 26
Last Checked: Oct 26 at 4:06PM
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 eXp Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
A 1920 Craftsman-era raised-basement double sits on one of two lots of record offered together; the second lot is vacant. The building contains 2,314 square feet and has received some electrical and cosmetic updates, but requires a full renovation. It has been tenant-occupied over time.
The combined property measures 60 feet by 220 feet and is near Freret Street amenities, universities, and major hospitals. The lots are sold together and are not offered separately from the house.
The combined property measures 60 feet by 220 feet and is near Freret Street amenities, universities, and major hospitals. The lots are sold together and are not offered separately from the house.
Key Highlights
- Two lots of record offered together: one vacant and one improved with a duplex
- 60' x 220' parcel
- 1920 Craftsman‑era raised‑basement double
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,889
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,780
$397.8K
Cap Rate 7%
$284,129
$284.1K
Cap Rate 9%
$220,989
$221.0K
Market Conditions
NOI Build-Up for 2,314 SF
Gross rent
$31.1K $13.44/SF
− Vacancy
−$2.7K −$1.16/SF
EGI
$28.4K $12.28/SF
− OpEx
−$8.5K −$3.68/SF
NOI
$19.9K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,780
Cap Rate 7%
$284,129
Cap Rate 9%
$220,989
Alternative Uses
Best Use
Multifamily LT 5
$284.1K
$248.6K – $331.5K
NOI $19,889 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$251.9K
$220.4K – $293.9K
NOI $17,631 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$610.5K
$534.2K – $712.3K
NOI $42,735 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property pairs a raised-basement double requiring full renovation with a separate vacant lot.
Where is this duplex located?
The property is located at 2817 23 UPPERLINE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two lots of record offered together: one vacant and one improved with a duplex; 60' x 220' parcel; 1920 Craftsman‑era raised‑basement double
