Six-Unit Multifamily
For Sale
$825,000
Pending
710 BURDETTE Street, New Orleans, LA 70118
MULTI_FAMILY - New Orleans, LA
Property Size5,655 SF
Days on Market499
Property Features for 710 BURDETTE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Porch Screened In
Lot features
Regular
Standard status
Pending
APN
716105711
Size
5,655 SF
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Floors in Building
2
Number of units
6
Roof type
Asphalt
Architectural style
Other
Listing Agency:
The McEnery Company
(504) 274-2701
Listed By:
S. Parkerson McEnery
(504) 605-4400
Added: Apr 1, 2025
Changed: Aug 3
Last Checked: Aug 12 at 6:06PM
MLS# 2494334
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
710 Burdette Street is a well-maintained six-unit multifamily property offering a mix of one-, two-, and three-bedroom units. Each unit is separately metered for utilities, supporting independent tenant billing and straightforward operations within the building.
The property is located in New Orleans’ University area, with proximity to Tulane and Loyola Universities. It is also described as steps from St. Charles Avenue and the Maple Street commercial corridor, placing everyday shopping, dining, and entertainment options nearby.
For investors and owner-occupants seeking a compact income asset, this building provides six distinct residential units in a single structure, with utility separation already in place.
The property is located in New Orleans’ University area, with proximity to Tulane and Loyola Universities. It is also described as steps from St. Charles Avenue and the Maple Street commercial corridor, placing everyday shopping, dining, and entertainment options nearby.
For investors and owner-occupants seeking a compact income asset, this building provides six distinct residential units in a single structure, with utility separation already in place.
Key Highlights
- Six‑unit multi‑family property with a mix of one-, two-, and three‑bedroom units
- Units are separately metered for utilities
- Central heating and central air, plus window unit(s) for cooling
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
$65,818
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
7.98%
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%
$1,316,360
$1.3M
Cap Rate 7%
$940,257
$940.3K
Cap Rate 9%
$731,311
$731.3K
Market Conditions
NOI Build-Up for 5,655 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
$131.6K $23.28/SF
− Vacancy
−$12.0K −$2.12/SF
EGI
$119.7K $21.16/SF
− OpEx
−$53.9K −$9.52/SF
NOI
$65.8K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /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%
$1,316,360
Cap Rate 7%
$940,257
Cap Rate 9%
$731,311
Alternative Uses
Best Use
Apartment 5plus
$940.3K
$822.7K – $1.10M
NOI $65,818 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,612 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
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?
Apartment building - Well-maintained six-unit property offers a mix of one-, two-, and three-bedroom layouts with separately metered utilities.
Where is this apartment building located?
The property is located at 710 BURDETTE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Six‑unit multi‑family property with a mix of one-, two-, and three‑bedroom units; Units are separately metered for utilities; Central heating and central air, plus window unit(s) for cooling
