Multifamily
For Sale
$450,000
3420 Clara St, New Orleans, LA 70115
Built in 2008, this Uptown New Orleans property is positioned for renovation, repositioning, continued ownership, or redevelopment.
Property Size1,736 SF
Price / SF$259.22
Days on Market15
Property Features for 3420 Clara St
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Multi-Family
Building Details
Year Built
2008
Listing Agency:
Clavier Realty Group LLC
(985) 869-3010
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Aug 20
Changed: Sep 2
Last Checked: Sep 2 at 5:20PM
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 Clavier Realty Group LLC
Investment Insights
Based on property information with market context.
Located at 3420 Clara St in New Orleans, this multifamily property was built in 2008. The asset is presented as a residential income property with several potential planning directions, including renovation, repositioning, continued holding, or redevelopment.
The property is situated in Uptown New Orleans, an established area identified in the source information as offering access to neighborhood amenities, restaurants, shopping, schools, and major New Orleans destinations. Its address, multifamily classification, and 2008 construction provide a clear foundation for evaluating the property within an ownership or redevelopment strategy.
The property is situated in Uptown New Orleans, an established area identified in the source information as offering access to neighborhood amenities, restaurants, shopping, schools, and major New Orleans destinations. Its address, multifamily classification, and 2008 construction provide a clear foundation for evaluating the property within an ownership or redevelopment strategy.
Key Highlights
- Multifamily property at 3420 Clara St, New Orleans, LA 70115
- Built in 2008
- Located in Uptown New Orleans
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,227
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$264,540
$264.5K
Cap Rate 7%
$188,957
$189.0K
Cap Rate 9%
$146,967
$147.0K
Market Conditions
NOI Build-Up for 1,736 SF
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.
Gross rent
$26.5K $15.24/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$24.0K $13.85/SF
− OpEx
−$10.8K −$6.23/SF
NOI
$13.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$264,540
Cap Rate 7%
$188,957
Cap Rate 9%
$146,967
Alternative Uses
Best Use
Apartment 5plus
$189.0K
$165.3K – $220.5K
NOI $13,227 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$458.0K
$400.8K – $534.3K
NOI $32,060 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,820
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
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 2008, this Uptown New Orleans property is positioned for renovation, repositioning, continued ownership, or redevelopment.
Where is this multifamily property located?
The property is located at 3420 Clara St 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: Multifamily property at 3420 Clara St, New Orleans, LA 70115; Built in 2008; Located in Uptown New Orleans
