Renovated Multi-Family Bywater
728 Desire Street, New Orleans, LA 70117
Six-unit apartment building in Bywater, renovated in 2019.
Type:MULTI FAMILY FOR SALE / Townhouse
Property size:
4,480 SFPrice / SF:
$222/SF- Added:
- Feb 14, 2025
- Days on Market:
- 473
- Last Refresh:
- Mar 13 at 6:18 pm
Property Features for 728 Desire Street
General Information
- Standard status
- Active
- Size
- 4,480 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 2019
Listing agent Phillipa Bowers License #995703036 (504) 884-3893
Listing office REVE, REALTORS (504) 884-3893
Listing date Feb 14, 2025
Source Compass
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 REVE, REALTORS
HighLights
- High occupancy multi‑family apartment building with stabilized in‑place cash flow.
- Completely renovated in 2019.
- Six apartments with off‑street parking.
- Located in the Bywater Neighborhood in New Orleans, near retailers, schools, and places of work.
- 4,495 SF of rentable space.
- Central air and heating, in‑unit laundry, and security system.
Overview
Located in the Bywater Neighborhood of New Orleans, this multi-family apartment building offers a valuable investment opportunity. The property features 4,495 square feet of rentable space, configured into six apartments. Off-street parking is available. The building underwent a complete renovation in 2019. The property is well-maintained and has stabilized in-place cash flow. The location offers proximity to surrounding neighborhoods, retailers, schools, and places of work, potentially providing stability and rent appreciation.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $104.3k | $23.28 |
| − Vacancy | −$9.5k | −$2.12 |
| EGI | $94.8k | $21.16 |
| − OpEx | −$42.7k | −$9.52 |
| NOI | $52.1k | $11.64 |
4,480 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$744.9K
$651.8K – $869.0K
NOI $52,142 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$996.3K – $1.33M
NOI $79,707 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.0416246
- Latitude
- 29.9633169
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit apartment building in Bywater, renovated in 2019.
Where is this apartment building located?
The property is located at 728 Desire Street New Orleans, LA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: High occupancy multi‑family apartment building with stabilized in‑place cash flow.; Completely renovated in 2019.; Six apartments with off‑street parking.
