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    New Orleans Multifamily Property Title is generated by Realmo AI

    3135 DAUPHINE Street, New Orleans, LA 70117

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    For Sale
    $2,850,000

    MULTI_FAMILY - New Orleans, LA

    Type:Apartment
    Property size:
    15,054 SF
    Price / SF:
    $189/SF
    Added:
    Jan 27, 2025
    Days on Market:
    501
    Last Refresh:
    Jun 12 at 1:06 pm

    Property Features for 3135 DAUPHINE Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Parking features
    Off Street
    Standard status
    Active
    APN
    3135-DAUPHINEST
    Size
    15,054 SF

    Utilities

    Heating system
    Ductless (Heating), Other (Heating)
    Cooling system
    Ductless, Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1975
    Floors in Building
    2
    Number of units
    27
    Roof type
    Membrane, Flat

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    Listing Contact
    DOUGLAS BERNARD

    Listing agent DOUGLAS BERNARD

    Listing office REMAX ALLIANCE 5001 Highway 190 Service Road, Mandeville, LA

    Listing date Jan 27, 2025

    MLS# 2495514 Listing URL

    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.

    HighLights

    • 1975 construction with membrane and flat roofing
    • Public water source
    • Heating includes ductless and other systems; cooling includes ductless and wall unit(s)
    • 26 on‑site parking spaces and off‑street parking
    • Condominium regime has been created; units can be converted to condos at purchaser's option
    • Assumable non‑recourse loan: $1,678,625 balance at 5.15% with ADS maturity date March 1, 2029

    Overview

    This multifamily property is located in New Orleans, LA. The property has a total size of 15,054 square feet. There are 26 on-site parking spaces available. An assumable non-recourse loan is available with a $1,678,625 loan balance, a 5.15% rate, and $122,201 ADS. The maturity date for the loan is March 1st, 2029. A condominium regime has been created, and the units can be converted to condos at the purchaser's option.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $350.5k $23.28
    − Vacancy −$31.9k −$2.12
    EGI $318.6k $21.16
    − OpEx −$143.4k −$9.52
    NOI $175.2k $11.64
    15,054 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $2.50M
    $2.19M – $2.92M (±1% cap)
    NOI $175,211 @ 7.0% cap · market cap 6.15%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $3.83M
    $3.35M – $4.46M (±1% cap)
    NOI $267,836 @ 7.0% cap · market cap 9.40%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.044357
    Latitude
    29.964788

    FAQs

    What type of property is this?
    Apartment building - Multifamily property in New Orleans with assumable loan.
    Where is this apartment building located?
    The property is located at 3135 DAUPHINE Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $2,850,000.
    What are key features of this property?
    This property features: 1975 construction with membrane and flat roofing; Public water source; Heating includes ductless and other systems; cooling includes ductless and wall unit(s)
    More about this property
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