Three-Unit Triplex with Vacant
For Sale
$349,900
5335 Burgundy Street, New Orleans, LA 70117
Two units are leased, while the third is available for light cosmetic updates.
Property Size2,356 SF
Price / SF$148.51
Days on Market176
Property Features for 5335 Burgundy Street
General Information
Standard status
Active
Size
2,356 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Property Condition
Severity
Repairs Needed
Evidence
ready for light cosmetic updates
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
Window Unit(s)
Other Heat
1
3
6
Asphalt
Slab: Traditional
Brick
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Boyd Realtors, LLC
(305) 962-6201
Listed By:
Jaime Wright · License #995697965
(305) 962-6201
Source:
Compass
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 31 at 12:51AM
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 Boyd Realtors, LLC
Investment Insights
Based on property information with market context.
Built in 1980, this 2,356-square-foot triplex at 5335 Burgundy Street contains three two-bedroom, one-bath units. Two units are leased, and the remaining unit is vacant and positioned for light cosmetic updates. The configuration supports an owner-occupant arrangement or continued use as a multifamily rental property.
The property is in the Holy Cross area of New Orleans, with access to the French Quarter, Bywater, and downtown New Orleans. Its three-unit layout provides separate residential spaces within a single multifamily asset, offering flexibility for occupancy and leasing plans.
The property is in the Holy Cross area of New Orleans, with access to the French Quarter, Bywater, and downtown New Orleans. Its three-unit layout provides separate residential spaces within a single multifamily asset, offering flexibility for occupancy and leasing plans.
Key Highlights
- 2,356 SF triplex with three residential units
- Three 2 bedroom / 1 bath units
- Two units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,833
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$596,660
$596.7K
Cap Rate 7%
$426,186
$426.2K
Cap Rate 9%
$331,478
$331.5K
Market Conditions
NOI Build-Up for 2,356 SF
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.
Gross rent
$46.6K $19.80/SF
− Vacancy
−$4.0K −$1.71/SF
EGI
$42.6K $18.09/SF
− OpEx
−$12.8K −$5.43/SF
NOI
$29.8K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$596,660
Cap Rate 7%
$426,186
Cap Rate 9%
$331,478
Alternative Uses
Best Use
Multifamily LT 5
$426.2K
$372.9K – $497.2K
NOI $29,833 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$391.7K
$342.8K – $457.0K
NOI $27,421 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$598.8K
$524.0K – $698.6K
NOI $41,917 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two units are leased, while the third is available for light cosmetic updates.
Where is this triplex located?
The property is located at 5335 Burgundy Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,356 SF triplex with three residential units; Three 2 bedroom / 1 bath units; Two units are currently leased
