Multifamily
For Sale
$285,000
5022-5024 24 S Prieur St, New Orleans, LA 70125
Multifamily property in New Orleans, Louisiana, built in 1971.
Property Size1,500 SF
Price / SF$190
Days on Market65
Property Features for 5022-5024 24 S Prieur St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Broadmoor
Building Details
Year Built
1971
Listing Agency:
Southern Real Estate Professionals, LLC
Listed By:
Shontel Gremillion · License #995704393
(504) 415-0801
Source:
Fiorellaavenue
Added: Aug 21
Changed: Oct 3
Last Checked: Oct 23 at 12:01PM
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 Southern Real Estate Professionals, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 5022-5024 24 S Prieur St in New Orleans, this multifamily property was constructed in 1971. The asset is identified as a multifamily property and is offered for sale.
Key Highlights
- Multifamily property at 5022‑5024 24 S Prieur St, New Orleans, LA 70125
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,458
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,160
$349.2K
Cap Rate 7%
$249,400
$249.4K
Cap Rate 9%
$193,978
$194.0K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$34.9K $23.28/SF
− Vacancy
−$3.2K −$2.12/SF
EGI
$31.7K $21.16/SF
− OpEx
−$14.3K −$9.52/SF
NOI
$17.5K $11.64/SF
Area
New Orleans, LA
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%
$349,160
Cap Rate 7%
$249,400
Cap Rate 9%
$193,978
Alternative Uses
Best Use
Apartment 5plus
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$381.3K
$333.6K – $444.8K
NOI $26,688 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,670
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in New Orleans, Louisiana, built in 1971.
Where is this multifamily property located?
The property is located at 5022-5024 24 S Prieur St New Orleans, LA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Multifamily property at 5022‑5024 24 S Prieur St, New Orleans, LA 70125; Built in 1971
