Renovated Furnished
For Sale
$550,000
618 South Lopez St, New Orleans, LA 70119
Two permitted short-term rental units with updated interiors, central HVAC, and furnishings included.
Property Size1,820 SF
Price / SF$302.20
Days on Market67
Property Features for 618 South Lopez St
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA (1,350 SF), 1 x 1BR/1BA (470 SF)
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
brick patio
Building Details
Year Built
2018
Year Renovated
2018
Listing Agency:
The McEnery Company
Listed By:
Scott Weston · License #995684661
(318) 218-4860
Source:
Dominionplace
Added: Aug 14
Changed: Oct 16
Last Checked: Oct 7 at 12:56PM
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 The McEnery Company
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex at 618 South Lopez St includes two fully permitted units totaling 1,820 SF. The larger residence offers 3 bedrooms, 2 bathrooms, and 1,350 SF, while the second unit provides 1 bedroom, 1 bathroom, and 470 SF. Both spaces were renovated in 2018 and include central HVAC, hardwood flooring, granite countertops, updated plumbing and electrical systems, and newer appliances. The sale includes furniture, linens, TVs, and related furnishings.
Outdoor improvements include a brick patio in the rear yard. The property is commercially zoned and positioned near the Tulane Avenue bike lane, approximately 1 mile from Downtown New Orleans.
Outdoor improvements include a brick patio in the rear yard. The property is commercially zoned and positioned near the Tulane Avenue bike lane, approximately 1 mile from Downtown New Orleans.
Key Highlights
- Two‑unit duplex totaling 1,820 SF
- Fully permitted commercial short‑term rental property
- 3‑bedroom, 2‑bath unit with 1,350 SF
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.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,967
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two permitted short-term rental units with updated interiors, central HVAC, and furnishings included.
Where is this duplex located?
The property is located at 618 South Lopez St 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 totaling 1,820 SF; Fully permitted commercial short‑term rental property; 3‑bedroom, 2‑bath unit with 1,350 SF
