Three-Unit Raised-Basement
5510 Canal Boulevard New Orleans, LA 70124
5510 Canal Boulevard, New Orleans, LA, 70124
$460,000
For Sale
$460,000
Three-plex includes upper unit with front porch, wood floors and 9' ceilings plus two lower-level units with washer/dryer hookups.
Property Size3,370 SF
Price / SF$136.50
Days on Market85
Property Features for 5510 Canal Boulevard
General Information
- Standard status
- Active
- Size
- 3,370 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1923
Listing agency
Compass
(504) 319-6226
Listed by
Samara Poché · License #000016376
(504) 319-6226
Source
Compass
Added: Apr 30 Updated: Jul 21 at 7:34AM Checked: Jul 22 at 10:34AM
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 Compass
Investment Insights
Based on property information with market context.
This three-plex is a raised-basement property with three occupied units. The upper unit features a front porch, wood floors, and soaring 9' ceilings, with three bedrooms and two bathrooms. The lower level contains two additional units, each with washer and dryer hookup availability, tile floors, and 7' ceilings.
The property is located on Canal Boulevard in the Navarre neighborhood of New Orleans, and is described as being minutes from local shops and restaurants.
On-site parking is provided for 3+ cars, supporting convenient tenant access.
The property is located on Canal Boulevard in the Navarre neighborhood of New Orleans, and is described as being minutes from local shops and restaurants.
On-site parking is provided for 3+ cars, supporting convenient tenant access.
Key Highlights
- 6‑bedroom, 4‑bath 3‑plex with 2 stories and slab‑on‑grade foundation
- Upper unit features an expansive front porch, 9' ceilings, and wood floors with 3 bedrooms and 2 bathrooms
- Two lower‑level units include tile floors and 7' ceilings, with washer/dryer hookups in each unit
Local 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 | $78.5k | $23.28 |
| − Vacancy | −$7.1k | −$2.12 |
| EGI | $71.3k | $21.16 |
| − OpEx | −$32.1k | −$9.52 |
| NOI | $39.2k | $11.64 |
3,370 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$609.6K
$533.4K – $711.2K
NOI $42,673 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$560.3K
$490.3K – $653.7K
NOI $39,223 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$856.5K
$749.5K – $999.3K
NOI $59,958 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-plex includes upper unit with front porch, wood floors and 9' ceilings plus two lower-level units with washer/dryer hookups.
Where is this triplex located?
The property is located at 5510 Canal Boulevard New Orleans, LA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 6‑bedroom, 4‑bath 3‑plex with 2 stories and slab‑on‑grade foundation; Upper unit features an expansive front porch, 9' ceilings, and wood floors with 3 bedrooms and 2 bathrooms; Two lower‑level units include tile floors and 7' ceilings, with washer/dryer hookups in each unit
