Triplex with
5310-14 Memphis Street, New Orleans, LA 70124
For Sale
$499,000
Three residences share a yard and driveway, with a larger balcony at 5312 Memphis Street.
Property Size3,644 SF
Price / SF$136.94
Days on Market89
Property Features for 5310-14 Memphis Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Year Built
Units
Listing Agency:
Century 21 Investment Realty
(985) 643-4200
Listed By:
Gwen Michon · License #000072144
(985) 502-5952
Source:
Donaldjulienrealestate
Added: Aug 11
Changed: Nov 7
Last Checked: Nov 7 at 6:02PM
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 Century 21 Investment Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1934-built triplex contains 3,644 square feet across three residences: two units with three bedrooms and two bathrooms each, plus a one-bedroom, one-bathroom unit. The residence at 5312 Memphis Street includes a large balcony. Residents also share a yard and driveway.
The property is in Lakeview, minutes from I-610, downtown New Orleans, and Lake Pontchartrain.
The property is in Lakeview, minutes from I-610, downtown New Orleans, and Lake Pontchartrain.
Key Highlights
- 3,644‑square‑foot triplex built in 1934
- Two 3‑bedroom, 2‑bathroom units and one 1‑bedroom, 1‑bathroom unit
- Shared yard and driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,412
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$848,240
$848.2K
Cap Rate 7%
$605,886
$605.9K
Cap Rate 9%
$471,244
$471.2K
Market Conditions
NOI Build-Up for 3,644 SF
Gross rent
$84.8K $23.28/SF
− Vacancy
−$7.7K −$2.12/SF
EGI
$77.1K $21.16/SF
− OpEx
−$34.7K −$9.52/SF
NOI
$42.4K $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%
$848,240
Cap Rate 7%
$605,886
Cap Rate 9%
$471,244
Alternative Uses
Best Use
Multifamily LT 5
$659.2K
$576.8K – $769.0K
NOI $46,142 @ 7.0% cap · market cap 9.25%
Second Best
Apartment 5plus
$605.9K
$530.2K – $706.9K
NOI $42,412 @ 7.0% cap · market cap 8.50%
Theoretical Best
Office A
$926.2K
$810.4K – $1.08M
NOI $64,833 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
Business Placement
Demographics for 70124, LA
22,777
Population
8,919
Households
2.6
Avg Household Size
37
Median Age
70%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
3,400
Density / Sq Mi
$121,318
Median Household Income
$66,323
Median Earnings
$1,752
Median Rent
$577,800
Median Home Value
Market
Average Price Trend$/SF for Triplexes in New Orleans, LA
Properties on Market for Triplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residences share a yard and driveway, with a larger balcony at 5312 Memphis Street.
Where is this triplex located?
The property is located at 5310-14 Memphis Street New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3,644‑square‑foot triplex built in 1934; Two 3‑bedroom, 2‑bathroom units and one 1‑bedroom, 1‑bathroom unit; Shared yard and driveway
