Apartment Building with Condo Conversion
For Sale
$2,850,000
3135 DAUPHINE Street, New Orleans, LA 70117
Multi-Family, New Orleans, LA
Property Size15,054 SF
Price / SF$189.32
Days on Market635
Property Features for 3135 DAUPHINE Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Parking features
Off Street
Lot features
Irregular
Standard status
Active
APN
3135-DAUPHINEST
Size
15,054 SF
Utilities
Heating system
Ductless (Heating), Other (Heating)
Cooling system
Wall Unit(s), Ductless
Water source
Public
Building Details
Year built
1975
Floors in Building
2
Number of units
27
Roof type
Membrane, Flat
Listing Agency:
REMAX ALLIANCE · RE/MAX International
(985) 626-1561
Listed By:
DOUGLAS BERNARD
(504) 915-0698
Added: Jan 27, 2025
Changed: Oct 20
Last Checked: Oct 24 at 8:06PM
MLS# 2495514
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.
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 apartment building at 3135 Dauphine Street in New Orleans contains 15,054 square feet and was constructed in 1975. The property includes 26 on-site parking spaces, off-street parking, ductless heating and cooling, public water service, and a flat membrane roof.
A condominium regime is in place, allowing the units to be converted to condominiums at the purchaser’s option. The property is located in Orleans Parish within ZIP code 70117.
A condominium regime is in place, allowing the units to be converted to condominiums at the purchaser’s option. The property is located in Orleans Parish within ZIP code 70117.
Key Highlights
- 15,054‑square‑foot apartment building constructed in 1975
- 26 on‑site parking spaces with off‑street parking
- Condominium regime established with purchaser conversion option
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$175,211
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,504,220
$3.5M
Cap Rate 7%
$2,503,014
$2.5M
Cap Rate 9%
$1,946,789
$1.9M
Market Conditions
NOI Build-Up for 15,054 SF
Gross rent
$350.5K $23.28/SF
− Vacancy
−$31.9K −$2.12/SF
EGI
$318.6K $21.16/SF
− OpEx
−$143.4K −$9.52/SF
NOI
$175.2K $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%
$3,504,220
Cap Rate 7%
$2,503,014
Cap Rate 9%
$1,946,789
Alternative Uses
Best Use
Apartment 5plus
$2.50M
$2.19M – $2.92M
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
NOI $267,836 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,347
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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?
Apartment building - Apartment property with off-street parking, ductless climate systems, public water service, and condominium conversion flexibility.
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: 15,054‑square‑foot apartment building constructed in 1975; 26 on‑site parking spaces with off‑street parking; Condominium regime established with purchaser conversion option
