New Orleans Multifamily Investment
For Sale
$475,000
514 SORAPARU Street, New Orleans, LA 70130
MULTI_FAMILY - New Orleans, LA
Property Size2,806 SF
Lot Size0.09 Acres
Price / SF$169.28
Days on Market114
Property Features for 514 SORAPARU Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Regular
Subdivision
Irish Channel
Standard status
Active
APN
411103126
Size
2,806 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 46 LOT 94 SORAPARU 30X130 OVER 128 4/PLEX 514-16 SORPARU ST FILE #13395 INCL. 516 SORAPARU, APT A
Legal Description
SQ 46 LOT 94 SORAPARU 30X130 OVER 128 4/PLEX 514-16 SORPARU ST FILE #13395 INCL. 516 SORAPARU, APT A
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
1
Roof type
Shingle
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Katrell Ambrose · License #370530
(504) 908-5037
Added: Apr 9
Changed: May 6
Last Checked: Jul 31 at 2:06AM
MLS# 2551665
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property, originally built in 1920, is located in the Irish Channel neighborhood of New Orleans, bounded by Tchoupitoulas St, Jackson Avenue, Magazine Street, Louisiana Avenue, and St. Charles Avenue. The property features 6 bedrooms and 4 bathrooms within approximately 2,806 square feet of living space. Situated on a 0.0888-acre lot, the property includes a backyard that extends beyond the chain-link gate. The property is located within walking distance of local restaurants, shopping, and neighborhood attractions. This property offers potential for rental income, renovation, or portfolio expansion. The property is to be sold as-is.
Key Highlights
- Multi‑family property ideal for investors
- Located in the desirable Irish Channel neighborhood, near restaurants, shopping, and attractions
- Spacious layout with 6 bedrooms and 4 bathrooms
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.3k | $23.28 |
| − Vacancy | −$5.9k | −$2.12 |
| EGI | $59.4k | $21.16 |
| − OpEx | −$26.7k | −$9.52 |
| NOI | $32.7k | $11.64 |
2,806 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$466.6K
$408.2K – $544.3K
NOI $32,659 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$713.2K
$624.0K – $832.1K
NOI $49,923 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,393
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Spacious 6-bedroom multifamily property in the Irish Channel neighborhood.
Where is this multifamily property located?
The property is located at 514 SORAPARU Street New Orleans, LA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Multi‑family property ideal for investors; Located in the desirable Irish Channel neighborhood, near restaurants, shopping, and attractions; Spacious layout with **6 bedrooms and 4 bathrooms**
