Furnished Triplex with
For Sale
$599,000
520 Opelousas Avenue, New Orleans, LA 70114
Multifamily, New Orleans, LA
Property Size2,990 SF
Lot Size0.04 Acres
Price / SF$200.33
Days on Market18
Property Features for 520 Opelousas Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
HU-MU
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 3
Security features
Security System
Window features
Wood Frames
Interior features
Open Floorplan, Varied Ceiling Heights
Exterior features
Awning(s)
Appliances
Dryer, Electric Range, Microwave, Refrigerator, Washer, Electric Water Heater, Dryer, Electric Range, Microwave, Refrigerator, Washer, Electric Water Heater
Subdivision
Algiers Point
Lot features
Corner Lot
Elementary school district
Orleans Parish
Middle school district
Orleans Parish
High school district
Orleans Parish
Directions
Between Vallette & Verret on Opelousas
Standard status
Active
APN
520-OPELOUSASAV
Size
2,990 SF
Lot size
0.04 Acres
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Tax Description
Sq 118 Pts 7/8 Or Pts A/B Or A-2 25 X 68 520 Opelousas Ave & Olivier
Tax Annual Amount
6607
Legal Description
Sq 118 Pts 7/8 Or Pts A/B Or A-2 25 X 68 520 Opelousas Ave & Olivier
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ceiling Fan(s), Ductless
Water source
Public
Amenities
laundry
Building Details
Year built
1918
Number of units
3
Flooring type
Tile, Wood
Building materials
Wood Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Crescent City Living, LLC
(504) 327-5303
Listed By:
Leslie E Heindel · License #995688679
(504) 975-4252
Added: Oct 20
Changed: Nov 6
Last Checked: Nov 6 at 10:06AM
MLS# 200JMT
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,990-square-foot triplex contains three distinct units: an open-plan storefront studio, an upstairs one-bedroom, one-bath apartment, and a townhouse-style unit with two bedrooms and one bath. A separate entrance leads to laundry and storage space. The property is furnished and has a history of use as a commercial short-term rental. HU-MU zoning applies.
Built in 1918, the property received a new roof in 2022 and has individual ductless mini-split systems in each unit. Tile and wood flooring, varied ceiling heights, and an awning are among the building features. Public water and sewer are available, along with natural gas service.
The property occupies a 0.04-acre lot on Opelousas Avenue in Algiers Point, a short distance from the ferry to downtown. Nearby businesses include Little House Wine Bar, Barracuda Taco Stand, Congregation Coffee, The Drift Inn Diner, and Tout de Suite Cafe.
Built in 1918, the property received a new roof in 2022 and has individual ductless mini-split systems in each unit. Tile and wood flooring, varied ceiling heights, and an awning are among the building features. Public water and sewer are available, along with natural gas service.
The property occupies a 0.04-acre lot on Opelousas Avenue in Algiers Point, a short distance from the ferry to downtown. Nearby businesses include Little House Wine Bar, Barracuda Taco Stand, Congregation Coffee, The Drift Inn Diner, and Tout de Suite Cafe.
Key Highlights
- Three units: storefront studio, upstairs 1‑bedroom/1‑bath, and townhouse‑style 2‑bedroom/1‑bath
- 2,990 square feet on a 0.04‑acre lot
- HU‑MU zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,365
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,300
$807.3K
Cap Rate 7%
$576,643
$576.6K
Cap Rate 9%
$448,500
$448.5K
Market Conditions
NOI Build-Up for 2,990 SF
Gross rent
$71.8K $24.00/SF
− Vacancy
−$7.2K −$2.40/SF
EGI
$64.6K $21.60/SF
− OpEx
−$24.2K −$8.10/SF
NOI
$40.4K $13.50/SF
Area
New Orleans, LA
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,300
Cap Rate 7%
$576,643
Cap Rate 9%
$448,500
Alternative Uses
Best Use
Mixed Use
$576.6K
$504.6K – $672.8K
NOI $40,365 @ 7.0% cap · market cap 6.74%
Second Best
Multifamily LT 5
$540.9K
$473.3K – $631.0K
NOI $37,861 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$760.0K
$665.0K – $886.6K
NOI $53,197 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 70114, LA
23,127
Population
11,860
Households
2
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
4,535
Density / Sq Mi
$41,435
Median Household Income
$31,743
Median Earnings
$1,113
Median Rent
$194,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct units include a street-level storefront, an upstairs apartment, and a townhouse-style residence.
Where is this triplex located?
The property is located at 520 Opelousas Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three units: storefront studio, upstairs 1‑bedroom/1‑bath, and townhouse‑style 2‑bedroom/1‑bath; 2,990 square feet on a 0.04‑acre lot; HU‑MU zoning
