Four-Unit Historic Multifamily
3419-21 Prytania Street, New Orleans, LA 70115
For Sale
$789,000
HU-MU zoning accommodates multifamily use and a range of commercial possibilities.
Property Size4,660 SF
Price / SF$169.31
Days on Market73
Property Features for 3419-21 Prytania Street
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Villere Realty, LLC
Listed By:
Jason A Riggs · License LA #000014254
(504) 931-9320
Source:
Cypresskeyrealty
Added: Sep 3
Changed: Nov 12
Last Checked: Nov 13 at 2:43PM
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 Villere Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1917, this two-story multifamily property contains 4,660 square feet arranged as four apartments: a 2-bedroom, 1-bath unit, a 1-bedroom, 1-bath unit, an efficiency, and an upstairs 3-bedroom, 2-bath residence. The upper apartment also includes a sitting room, dining room, bonus room, oversized closets, and high ceilings. Three apartments occupy the ground floor. A new roof was installed in 2021, and the property is in an X Flood Zone.
The building is adjacent to Touro Hospital and the medical corridor, one block from St. Charles Avenue and the streetcar. Its HU-MU zoning allows for multifamily use and commercial possibilities. The property is eligible for state and federal historic tax credits covering up to 45% of eligible renovation costs.
The building is adjacent to Touro Hospital and the medical corridor, one block from St. Charles Avenue and the streetcar. Its HU-MU zoning allows for multifamily use and commercial possibilities. The property is eligible for state and federal historic tax credits covering up to 45% of eligible renovation costs.
Key Highlights
- Four apartments: 2/1, 1/1, efficiency, and upstairs 3/2
- 4,660 square feet in a two‑story building
- HU‑MU zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,506
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,120
$710.1K
Cap Rate 7%
$507,229
$507.2K
Cap Rate 9%
$394,511
$394.5K
Market Conditions
NOI Build-Up for 4,660 SF
Gross rent
$71.0K $15.24/SF
− Vacancy
−$6.5K −$1.39/SF
EGI
$64.6K $13.85/SF
− OpEx
−$29.1K −$6.23/SF
NOI
$35.5K $7.62/SF
Area
ZIP 70115
Vacancy
9.10%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,120
Cap Rate 7%
$507,229
Cap Rate 9%
$394,511
Alternative Uses
Best Use
Apartment 5plus
$507.2K
$443.8K – $591.8K
NOI $35,506 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.43M
NOI $86,061 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,905
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
$616,600
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in New Orleans, LA
Properties on Market for Multifamily properties in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - HU-MU zoning accommodates multifamily use and a range of commercial possibilities.
Where is this multifamily property located?
The property is located at 3419-21 Prytania Street New Orleans, LA.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Four apartments: 2/1, 1/1, efficiency, and upstairs 3/2; 4,660 square feet in a two‑story building; HU‑MU zoning
