Three-Unit Multifamily
For Sale
$499,000
5310 14 Memphis St, New Orleans, LA 70124
Includes two three-bedroom residences, a separate one-bedroom unit, shared outdoor space, and a large balcony.
Property Size3,644 SF
Price / SF$136.94
Days on Market68
Property Features for 5310 14 Memphis St
General Information
Standard status
Active
Size
3,644 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Amenities
shared yard
driveway
large balcony
Building Details
Year Built
1934
Listing Agency:
Century 21 Investment Realty
Listed By:
Gwen Michon · License #000072144
(985) 502-5952
Source:
Dominionplace
Added: Aug 14
Changed: Oct 4
Last Checked: Oct 7 at 2:28PM
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
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.
This multifamily property contains three separate living units: two configured with three bedrooms and two bathrooms, plus an additional one-bedroom, one-bath unit. The property also includes a shared yard and driveway, while the 5312 component features a large balcony. Constructed in 1934, the building offers an established residential configuration at 5310 14 Memphis St in New Orleans.
The property is situated in Lakeview, with access to 6-10, downtown, and Lake Pontchartrain described as minutes away. With 3,644 square feet and a combination of larger and smaller units, the layout provides a clearly defined multifamily setup within the property.
The property is situated in Lakeview, with access to 6-10, downtown, and Lake Pontchartrain described as minutes away. With 3,644 square feet and a combination of larger and smaller units, the layout provides a clearly defined multifamily setup within the property.
Key Highlights
- Three separate units: two 3 beds/2 baths and one 1 bedroom/1 bath
- 3,644 square feet of multifamily space
- Large balcony at 5312
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
Apartment 5plus
$605.9K
$530.2K – $706.9K
NOI $42,412 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Includes two three-bedroom residences, a separate one-bedroom unit, shared outdoor space, and a large balcony.
Where is this multifamily property located?
The property is located at 5310 14 Memphis St 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: Three separate units: two 3 beds/2 baths and one 1 bedroom/1 bath; 3,644 square feet of multifamily space; Large balcony at 5312
