Triplex with Off-Street
For Sale
$450,000
301 CITY PARK Avenue, New Orleans, LA 70119
Each residence includes in-unit laundry, a refrigerator, and a gas stove.
Property Size3,178 SF
Days on Market8
Property Features for 301 CITY PARK Avenue
General Information
Standard status
Active
Size
3,178 SF
Property subtype
Triplex
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Amenities
off-street parking
in-unit laundry
hardwood floors
tile floors
refrigerator
gas stove
individual window climate units
Building Details
Building Size
3,178 SF
Year Built
1950
Construction
stucco
Listing Agency:
Ricci Real Estate
Listed By:
Steve R Richards · License #995683048
(504) 372-0050
Source:
Ewbank.kw
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 20 at 5:25PM
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 Ricci Real Estate
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Investment Insights
Based on property information with market context.
Built in 1950, this New Orleans triplex contains three units, each with bedrooms, hardwood and tile flooring, individual window climate units, in-unit laundry, a refrigerator, and a gas stove. Gas water heaters serve the property. Electric and gas meters are separate; water is on a shared meter.
The building occupies a corner lot at 301 City Park Avenue and is also identified as 5101 and 5103 Bienville. Exterior features include stucco and a shingle roof installed in 2020. Dedicated off-street parking is provided, and the property has a current yearly termite contract.
The building occupies a corner lot at 301 City Park Avenue and is also identified as 5101 and 5103 Bienville. Exterior features include stucco and a shingle roof installed in 2020. Dedicated off-street parking is provided, and the property has a current yearly termite contract.
Key Highlights
- Three‑unit residential property built in 1950
- Corner lot with dedicated off‑street parking
- Shingle roof installed in 2020; stucco exterior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,241
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$804,820
$804.8K
Cap Rate 7%
$574,871
$574.9K
Cap Rate 9%
$447,122
$447.1K
Market Conditions
NOI Build-Up for 3,178 SF
Gross rent
$62.9K $19.80/SF
− Vacancy
−$5.4K −$1.71/SF
EGI
$57.5K $18.09/SF
− OpEx
−$17.2K −$5.43/SF
NOI
$40.2K $12.66/SF
Area
ZIP 70119
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%
$804,820
Cap Rate 7%
$574,871
Cap Rate 9%
$447,122
Alternative Uses
Best Use
Multifamily LT 5
$574.9K
$503.0K – $670.7K
NOI $40,241 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$528.4K
$462.4K – $616.5K
NOI $36,988 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$831.6K
$727.6K – $970.2K
NOI $58,211 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,039
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
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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?
Triplex - Each residence includes in-unit laundry, a refrigerator, and a gas stove.
Where is this triplex located?
The property is located at 301 CITY PARK Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit residential property built in 1950; Corner lot with dedicated off‑street parking; Shingle roof installed in 2020; stucco exterior
