Multifamily Townhouse with
For Sale
$750,000
304-06 WALNUT Street, New Orleans, LA 70118
Multi-Family, Traditional, New Orleans, LA
Property Size3,590 SF
Lot Size0.08 Acres
Price / SF$208.91
Days on Market60
Property Features for 304-06 WALNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway, Garage
Patio and Porch features
Porch
Exterior features
Driveway Permeable Surface, Porch
Lot features
Regular
Subdivision
Upper Audubon
Standard status
Active
APN
306-WALNUTST
Size
3,590 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
GREENVILLE SQ 31 LOT R 2. WALNUT 30X120 3. 304-06 WALNUT ST
Legal Description
GREENVILLE SQ 31 LOT R 2. WALNUT 30X120 3. 304-06 WALNUT ST
Utilities
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
front porch
Building Details
Year built
1926
Floors in Building
3
Number of units
3
Roof type
Asphalt
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
Sarah Keiffer · License #0995693332
(225) 270-0438
Added: Aug 9
Changed: Sep 28
Last Checked: Oct 7 at 6:06AM
MLS# 2571066
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1926, this 3,590-square-foot multifamily property has two above-grade levels and a basement. The upper floors contain two bedrooms and one bathroom, while the basement has a partial build-out with three bedrooms and two bathrooms. A front porch, window-unit cooling, natural gas heat, driveway and garage parking, and two separate meters are among its features. The property is being sold as-is, with no repairs by the seller.
The parcel measures 30 x 120 and sits across from Audubon Park in New Orleans. Public water serves the property.
The parcel measures 30 x 120 and sits across from Audubon Park in New Orleans. Public water serves the property.
Key Highlights
- Across from Audubon Park in New Orleans
- 3,590 square feet on a 30 x 120 lot
- Two upper levels with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,783
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,660
$835.7K
Cap Rate 7%
$596,900
$596.9K
Cap Rate 9%
$464,256
$464.3K
Market Conditions
NOI Build-Up for 3,590 SF
Gross rent
$83.6K $23.28/SF
− Vacancy
−$7.6K −$2.12/SF
EGI
$76.0K $21.16/SF
− OpEx
−$34.2K −$9.52/SF
NOI
$41.8K $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%
$835,660
Cap Rate 7%
$596,900
Cap Rate 9%
$464,256
Alternative Uses
Best Use
Apartment 5plus
$596.9K
$522.3K – $696.4K
NOI $41,783 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$912.5K
$798.4K – $1.06M
NOI $63,872 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - A front porch, separate utility meters, and driveway and garage parking serve this property across from Audubon Park.
Where is this multifamily property located?
The property is located at 304-06 WALNUT Street New Orleans, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Across from Audubon Park in New Orleans; 3,590 square feet on a 30 x 120 lot; Two upper levels with 2 bedrooms and 1 bathroom
