Furnished Multifamily
For Sale
$520,000
5513-15 Tchoupitoulas Street, New Orleans, LA 70115
Two-unit property with historic character, updated interiors, private laundry facilities, and access to Magazine Street amenities.
Property Size2,501 SF
Price / SF$207.92
Days on Market282
Property Features for 5513-15 Tchoupitoulas Street
General Information
Standard status
Active
Size
2,501 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Furnished
Yes
Amenities
separate laundry facility for each unit
Central Air
Central
1
2
4
Yes
Asphalt
Other
Pillar/Post/Pier
Metal Siding, Wood Siding
Porch
Building Details
Year Built
1914
Year Renovated
2006
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
Listed By:
Lynn Morgan · License #000021015
(504) 473-8320
Source:
Compass
Added: Nov 27, 2025
Changed: Sep 3
Last Checked: Sep 4 at 5:29PM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
This 1914 multifamily property at 5513-15 Tchoupitoulas Street contains furnished units with 11-foot ceilings, oak flooring, stainless steel kitchen appliances, central air, and a separate laundry facility for each unit. The property includes a porch and rests on a pillar/post/pier foundation. A renovation completed in 2006 added to the property's existing improvements.
The 5513 unit is leased through the end of May 2026 and includes a dedicated staircase to an 826-square-foot bonus room with air conditioning and heating. The building is across from Winn Dixie and Riverside Market restaurants and shops, with walkable access to Magazine Street shops and restaurants. Uptown, the Garden District, Audubon Park, and downtown are also readily accessible.
The 5513 unit is leased through the end of May 2026 and includes a dedicated staircase to an 826-square-foot bonus room with air conditioning and heating. The building is across from Winn Dixie and Riverside Market restaurants and shops, with walkable access to Magazine Street shops and restaurants. Uptown, the Garden District, Audubon Park, and downtown are also readily accessible.
Key Highlights
- Furnished multifamily property at 5513‑15 Tchoupitoulas Street
- 5513 unit leased through the end of May 2026
- 826‑square‑foot air‑conditioned and heated bonus room with dedicated staircase
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
$19,056
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
3.66%
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%
$381,120
$381.1K
Cap Rate 7%
$272,229
$272.2K
Cap Rate 9%
$211,733
$211.7K
Market Conditions
NOI Build-Up for 2,501 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
$38.1K $15.24/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$34.6K $13.85/SF
− OpEx
−$15.6K −$6.23/SF
NOI
$19.1K $7.62/SF
Area
ZIP 70115
Vacancy
9.10%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
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%
$381,120
Cap Rate 7%
$272,229
Cap Rate 9%
$211,733
Alternative Uses
Best Use
Apartment 5plus
$272.2K
$238.2K – $317.6K
NOI $19,056 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$659.8K
$577.4K – $769.8K
NOI $46,188 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,576
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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?
Multifamily property - Two-unit property with historic character, updated interiors, private laundry facilities, and access to Magazine Street amenities.
Where is this multifamily property located?
The property is located at 5513-15 Tchoupitoulas Street New Orleans, LA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Furnished multifamily property at 5513‑15 Tchoupitoulas Street; 5513 unit leased through the end of May 2026; 826‑square‑foot air‑conditioned and heated bonus room with dedicated staircase
