Building Details

Year Built 2017

Year Renovated 2019

Listing Agency: Bridgewater Realty Advisors, LLC

Listed By: Cameron Griffin · License #995696437 Show Phone

Source: Dominionplace

Added: Aug 17 Changed: Oct 5 Last Checked: Oct 7 at 12:59PM

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Investment Insights

Based on property information with market context.

This 12-unit apartment property contains 28 bedrooms and 16 bathrooms across four 3-bedroom/2-bath units and eight 2-bedroom/1-bath units. The approximately 8,360-square-foot building includes on-site laundry and 16 off-street parking spaces. Each unit is individually metered for electricity and other separately measured utilities.

Renovation work completed in 2019 included electrical, plumbing, roofing, and window systems. The property carries a 92% occupancy rate and is identified as being in Flood Zone X. Its stated cap rate is 8.65%. The asset is located in New Orleans, Louisiana, and was originally built in 2017.

Key Highlights

• 12‑unit apartment property with 28 bedrooms and 16 bathrooms
• Unit mix includes four 3‑bedroom/2‑bath units and eight 2‑bedroom/1‑bath units
• Approximately 8,360 square feet with 16 off‑street parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$65,839

Cap Rate

6.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,316,780 $1.3M

Cap Rate 7%

$940,557 $940.6K

Cap Rate 9%

$731,544 $731.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,360 SF

Gross rent

$129.4K $15.48/SF

− Vacancy

−$9.7K −$1.16/SF

EGI

$119.7K $14.32/SF

− OpEx

−$53.9K −$6.44/SF

NOI

$65.8K $7.88/SF

Area

ZIP 70126

Vacancy

7.50%

Lease Rate

$15.48 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,316,780

Cap Rate 7%

$940,557

Cap Rate 9%

$731,544

Alternative Uses

Best Use

Apartment 5plus

$940.6K

$823.0K – $1.10M (±1% cap)

NOI $65,839 @ 7.0% cap · market cap 6.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.19M

$1.92M – $2.56M (±1% cap)

NOI $153,490 @ 7.0% cap · market cap 16.24%

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

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Pharmacy Building Supply HVAC Service

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

12

Residential units

92%

Occupancy

Location Intelligence

Trade Area within ½ mile

264

Businesses Nearby

Explore this area Business Placement

Demographics for 70126, LA

30,397

Population

12,686

Households

2.4

Avg Household Size

33

Median Age

24%

College-Educated

87%

High-School Grad

12.1 sq mi

ZIP Area

2,512

Density / Sq Mi

$38,229

Median Household Income

$29,510

Median Earnings

$1,118

Median Rent

$187,300

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?

Apartment building - Renovated multifamily property with individually metered utilities, on-site laundry, and off-street parking.

Where is this apartment building located?

The property is located at 4415 35 Wilson Ave New Orleans, LA.

What is the asking price?

The asking price for this property is $945,000.

What are key features of this property?

This property features: 12‑unit apartment property with 28 bedrooms and 16 bathrooms; Unit mix includes four 3‑bedroom/2‑bath units and eight 2‑bedroom/1‑bath units; Approximately 8,360 square feet with 16 off‑street parking spaces