Triplex with Three Distinct
For Sale
$1,395,000
4133-35 Iberville Street, New Orleans, LA 70119
Two lower residences and an upper penthouse create a flexible three-unit configuration with central air and outdoor space.
Property Size5,427 SF
Price / SF$257.05
Days on Market230
Property Features for 4133-35 Iberville Street
General Information
Standard status
Active
Size
5,427 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Amenities
Central Air
Central
1
6
7
In unit
Asphalt, Other
2
Pillar/Post/Pier
HardiPlank Type, Wood Siding
Porch
Building Details
Year Built
1950
Listing Agency:
PREMIER PROPERTIES NORTHSHORE
(504) 957-6857
Listed By:
John Cerniglia · License #995689540
(504) 957-6857
Source:
Compass
Added: Jan 13
Changed: Aug 30
Last Checked: Aug 30 at 4:21PM
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 PREMIER PROPERTIES NORTHSHORE
Investment Insights
Based on property information with market context.
This 1950 triplex contains three separate residences with varied layouts. The two lower units each provide two bedrooms and two full bathrooms, while the upper penthouse includes three bedrooms, two bathrooms, and generous living space. Central air serves the building, and a fenced front yard and porch add outdoor amenities.
The property is located at 4133-35 Iberville Street, one block from Canal Street, Carrollton Avenue, and streetcar lines. Restaurants, coffee shops, grocery stores, and other neighborhood services are described as immediately accessible. The three-unit arrangement supports separate residential occupancy across the building and allows for varied leasing strategies.
The property is located at 4133-35 Iberville Street, one block from Canal Street, Carrollton Avenue, and streetcar lines. Restaurants, coffee shops, grocery stores, and other neighborhood services are described as immediately accessible. The three-unit arrangement supports separate residential occupancy across the building and allows for varied leasing strategies.
Key Highlights
- Three‑unit triplex at 4133‑35 Iberville Street
- Two lower units with 2 bedrooms and 2 full bathrooms each
- Upper penthouse includes 3 bedrooms and 2 bathrooms
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
$68,719
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
4.93%
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%
$1,374,380
$1.4M
Cap Rate 7%
$981,700
$981.7K
Cap Rate 9%
$763,544
$763.5K
Market Conditions
NOI Build-Up for 5,427 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
$107.5K $19.80/SF
− Vacancy
−$9.3K −$1.71/SF
EGI
$98.2K $18.09/SF
− OpEx
−$29.5K −$5.43/SF
NOI
$68.7K $12.66/SF
Area
ZIP 70119
Vacancy
8.64%
Lease Rate
$19.80 /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%
$1,374,380
Cap Rate 7%
$981,700
Cap Rate 9%
$763,544
Alternative Uses
Best Use
Multifamily LT 5
$981.7K
$859.0K – $1.15M
NOI $68,719 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$902.3K
$789.6K – $1.05M
NOI $63,164 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,405 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,070
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
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 - Two lower residences and an upper penthouse create a flexible three-unit configuration with central air and outdoor space.
Where is this triplex located?
The property is located at 4133-35 Iberville Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Three‑unit triplex at 4133‑35 Iberville Street; Two lower units with 2 bedrooms and 2 full bathrooms each; Upper penthouse includes 3 bedrooms and 2 bathrooms
