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Building Details

Buildings 2

Listing Agency: The Mullin Company Inc.

Listed By: Charlie Mullin Show Phone

Source: Lacdb.resimplifi

Added: Jun 23 Changed: Oct 5 Last Checked: Oct 14 at 7:39PM

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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 The Mullin Company Inc.

Investment Insights

Based on property information with market context.

This offering combines two adjoining triplex buildings with six total residences and 7,800 SF of property size. Each unit includes three bedrooms, two full bathrooms, and a washer and dryer. The buildings have been maintained by a long-term owner, and their roofs were replaced with pitched asphalt shingles around 2020.

Residents share a sizable grass area behind the buildings. The property has maintained 100% occupancy and is located in Kenner near West Esplanade Ave, approximately two blocks from Williams Blvd. The R-3 zoning designation supports the existing multifamily configuration.

Key Highlights

• Two adjacent triplexes offered together as a six‑unit package
• Each residence has 3 bedrooms, 2 full bathrooms, and a washer and dryer
• 7,800 SF property size

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,020

Cap Rate

8.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,600,400 $1.6M

Cap Rate 7%

$1,143,143 $1.1M

Cap Rate 9%

$889,111 $889.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,800 SF

Gross rent

$160.1K $20.52/SF

− Vacancy

−$14.6K −$1.87/SF

EGI

$145.5K $18.65/SF

− OpEx

−$65.5K −$8.39/SF

NOI

$80.0K $10.26/SF

Area

Jefferson County, LA

Vacancy

9.10%

Lease Rate

$20.52 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,600,400

Cap Rate 7%

$1,143,143

Cap Rate 9%

$889,111

Alternative Uses

Best Use

Multifamily LT 5

$1.22M

$1.07M – $1.43M (±1% cap)

NOI $85,598 @ 7.0% cap · market cap 9.21%

Second Best

Apartment 5plus

$1.14M

$1.00M – $1.33M (±1% cap)

NOI $80,020 @ 7.0% cap · market cap 8.61%

Theoretical Best

Office A

$2.06M

$1.80M – $2.40M (±1% cap)

NOI $144,050 @ 7.0% cap · market cap 15.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Big Box & Wholesale Store Parking Lot & Garage Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

6

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

1,173

Businesses Nearby

Explore this area Business Placement

Demographics for 70065, LA

51,484

Population

21,890

Households

2.4

Avg Household Size

40

Median Age

32%

College-Educated

87%

High-School Grad

8.0 sq mi

ZIP Area

6,436

Density / Sq Mi

$65,899

Median Household Income

$41,058

Median Earnings

$1,123

Median Rent

$255,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Six-unit residential income property with washer and dryer connections in every residence.

Where is this triplex located?

The property is located at 3520-3524 Delaware Ave Kenner, LA.

What is the asking price?

The asking price for this property is $929,000.

What are key features of this property?

This property features: Two adjacent triplexes offered together as a six‑unit package; Each residence has 3 bedrooms, 2 full bathrooms, and a washer and dryer; 7,800 SF property size