Five-Unit Apartment
For Sale
$569,000
3909 Iberville Street, New Orleans, LA 70119
A fully occupied multifamily property retains original architectural details and provides on-site parking.
Property Size3,558 SF
Price / SF$159.92
Days on Market11
Property Features for 3909 Iberville Street
General Information
Standard status
Active
Size
3,558 SF
Property subtype
Commercial
Zoning
HU-MU
Occupancy
100%
Site & Location
Neighborhood
Mid-City
Additional Details
Multifamily Units
5
Tenant in Place
Yes
Building Details
Building Size
3,558 SF
Year Built
1924
Stories
2
Listing Agency:
Cypress Key Realty LLC
Listed By:
Christopher Romero
(504) 250-4848
Source:
Cypresskeyrealty
Added: Oct 14
Changed: Oct 23
Last Checked: Oct 23 at 5:09PM
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 Cypress Key Realty LLC
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Investment Insights
Based on property information with market context.
This five-unit apartment building offers 3,558 square feet of residential space. Built in 1924, the property features high ceilings, hardwood floors, and original architectural details. On-site parking accommodates several cars.
The building is in Mid-City, near Carrollton Avenue, and is zoned HU-MU.
The building is in Mid-City, near Carrollton Avenue, and is zoned HU-MU.
Key Highlights
- Five‑unit apartment property
- 3,558 square feet of building area
- Fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,411
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,220
$828.2K
Cap Rate 7%
$591,586
$591.6K
Cap Rate 9%
$460,122
$460.1K
Market Conditions
NOI Build-Up for 3,558 SF
Gross rent
$82.8K $23.28/SF
− Vacancy
−$7.5K −$2.12/SF
EGI
$75.3K $21.16/SF
− OpEx
−$33.9K −$9.52/SF
NOI
$41.4K $11.64/SF
Area
ZIP 70119
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%
$828,220
Cap Rate 7%
$591,586
Cap Rate 9%
$460,122
Alternative Uses
Best Use
Apartment 5plus
$591.6K
$517.6K – $690.2K
NOI $41,411 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$931.0K
$814.6K – $1.09M
NOI $65,171 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,221
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A fully occupied multifamily property retains original architectural details and provides on-site parking.
Where is this apartment building located?
The property is located at 3909 Iberville Street New Orleans, LA.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Five‑unit apartment property; 3,558 square feet of building area; Fully occupied
