Triplex with In-Unit
For Sale
$349,000
613 Oak Avenue, Harahan, LA 70123
Three residential units offer distinct layouts and private laundry rooms within each unit.
Property Size2,717 SF
Days on Market16
Property Features for 613 Oak Avenue
General Information
Standard status
Active
Size
2,717 SF
Property subtype
Multi Family Home
Building Details
Building Size
2,717 SF
Year Built
1983
Stories
2
Listing Agency:
Nola Living Realty
(504) 239-9300
Listed By:
Tony Ruiz · License #995694137
(504) 239-9300
Source:
Nolalivingrealty
Added: Aug 7
Changed: Aug 21
Last Checked: Aug 21 at 5:59AM
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 Nola Living Realty
Investment Insights
Based on property information with market context.
Built in 1983, this triplex includes three separate residential units with a practical mix of layouts. One unit contains three bedrooms and two bathrooms, while the other two each provide two bedrooms and one bathroom. Every unit includes its own interior laundry room.
The property is located at 613 Oak Avenue in Harahan, Louisiana, on a quiet street with ample parking space. The configuration supports separate occupancy across all three units, with the option to occupy one unit while leasing the others.
The property is located at 613 Oak Avenue in Harahan, Louisiana, on a quiet street with ample parking space. The configuration supports separate occupancy across all three units, with the option to occupy one unit while leasing the others.
Key Highlights
- Three‑unit residential property built in 1983
- Unit mix includes one 3‑bedroom, 2‑bath unit and two 2‑bedroom, 1‑bath units
- Each unit has an interior laundry room
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
$29,817
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
8.54%
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%
$596,340
$596.3K
Cap Rate 7%
$425,957
$426.0K
Cap Rate 9%
$331,300
$331.3K
Market Conditions
NOI Build-Up for 2,717 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 $17.16/SF
− Vacancy
−$4.0K −$1.48/SF
EGI
$42.6K $15.68/SF
− OpEx
−$12.8K −$4.70/SF
NOI
$29.8K $10.97/SF
Area
ZIP 70123
Vacancy
8.64%
Lease Rate
$17.16 /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%
$596,340
Cap Rate 7%
$425,957
Cap Rate 9%
$331,300
Alternative Uses
Best Use
Multifamily LT 5
$426.0K
$372.7K – $497.0K
NOI $29,817 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$398.2K
$348.4K – $464.6K
NOI $27,874 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$697.0K
$609.9K – $813.2K
NOI $48,790 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
759
Businesses Nearby
Explore this area
Business Placement
Demographics for 70123, LA
27,346
Population
14,297
Households
1.9
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
7.6 sq mi
ZIP Area
3,598
Density / Sq Mi
$82,639
Median Household Income
$52,709
Median Earnings
$1,310
Median Rent
$318,000
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 - Three residential units offer distinct layouts and private laundry rooms within each unit.
Where is this triplex located?
The property is located at 613 Oak Avenue Harahan, LA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Three‑unit residential property built in 1983; Unit mix includes one 3‑bedroom, 2‑bath unit and two 2‑bedroom, 1‑bath units; Each unit has an interior laundry room
