Furnished Two-Unit
For Sale
$550,000
618 S LOPEZ Street, New Orleans, LA 70119
Multifamily, New Orleans, LA
Property Size1,820 SF
Price / SF$302.20
Days on Market73
Property Features for 618 S LOPEZ Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Standard status
Active
APN
105204813
Size
1,820 SF
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
patio
Building Details
Year built
2018
Number of units
2
Building materials
HardiPlank Type
Architectural style
Creole
Listing Agency:
The McEnery Company
(504) 274-2701
Listed By:
Scott D Weston · License #995684661
(318) 218-4860
Added: Aug 12
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 2572141
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This Creole-style duplex contains two furnished residences totaling 1,820 square feet. The larger unit offers three bedrooms and two bathrooms across 1,350 square feet, while the second has one bedroom and one bathroom in 470 square feet. Both units are included with furnishings and linens. Building features include central HVAC, hardwood floors, granite countertops, updated plumbing and electrical, and a rear brick patio. The property was renovated in 2018 and has HardiPlank Type exterior construction.
Located on South Lopez Street in New Orleans, the property is near the Tulane Avenue bike lane and one mile from downtown. Commercial zoning and the two-unit layout support its current short-term rental configuration.
Located on South Lopez Street in New Orleans, the property is near the Tulane Avenue bike lane and one mile from downtown. Commercial zoning and the two-unit layout support its current short-term rental configuration.
Key Highlights
- Two‑unit duplex with 1,820 square feet total
- Larger residence: 3 bedrooms, 2 bathrooms, and 1,350 square feet
- Second residence: 1 bedroom, 1 bathroom, and 470 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,046
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,920
$460.9K
Cap Rate 7%
$329,229
$329.2K
Cap Rate 9%
$256,067
$256.1K
Market Conditions
NOI Build-Up for 1,820 SF
Gross rent
$36.0K $19.80/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$32.9K $18.09/SF
− OpEx
−$9.9K −$5.43/SF
NOI
$23.0K $12.66/SF
Area
ZIP 70119
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 Rate 5%
$460,920
Cap Rate 7%
$329,229
Cap Rate 9%
$256,067
Alternative Uses
Best Use
Multifamily LT 5
$329.2K
$288.1K – $384.1K
NOI $23,046 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$302.6K
$264.8K – $353.1K
NOI $21,183 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$476.2K
$416.7K – $555.6K
NOI $33,337 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,967
Businesses Nearby
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Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - A commercially zoned, furnished short-term rental property with central HVAC and a rear brick patio.
Where is this duplex located?
The property is located at 618 S LOPEZ Street New Orleans, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,820 square feet total; Larger residence: 3 bedrooms, 2 bathrooms, and 1,350 square feet; Second residence: 1 bedroom, 1 bathroom, and 470 square feet
