Two-Triplex Multifamily
For Sale
$949,000
3520-3524 Delaware Ave, Kenner, LA 70065
Six-unit residential income property with washer and dryer connections in every residence.
Property Size7,800 SF
Price / SF$121.67
Days on Market70
Property Features for 3520-3524 Delaware Ave
General Information
Standard status
Active
Size
7,800 SF
Property subtype
Multifamily
Zoning
R-3
Occupancy
100%
Financials
Asking Price
$949,000
Cap Rate
7.06%
Average Monthly Rent
$1,350
Units
Unit Mix
6 x 3BR/2BA
Multifamily Units
6
Amenities
in-unit washer/dryer
large rear grass area
Power
Water
Sewer
Building Details
Buildings
2
Listing Agency:
The Mullin Company Inc.
(504) 400-3254
Listed By:
Charlie Mullin
(504) 400-3254
Source:
Lacdb.resimplifi
Added: Jun 23
Changed: Aug 30
Last Checked: Aug 30 at 1:53PM
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.
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 = 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
$85,598
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
9.02%
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%
$1,711,960
$1.7M
Cap Rate 7%
$1,222,829
$1.2M
Cap Rate 9%
$951,089
$951.1K
Market Conditions
NOI Build-Up for 7,800 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
$133.8K $17.16/SF
− Vacancy
−$11.6K −$1.48/SF
EGI
$122.3K $15.68/SF
− OpEx
−$36.7K −$4.70/SF
NOI
$85.6K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$1,711,960
Cap Rate 7%
$1,222,829
Cap Rate 9%
$951,089
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.43M
NOI $85,598 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$1.14M
$1.00M – $1.33M
NOI $80,020 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,050 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Questions? Ask Rey
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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 $949,000.
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
