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Renovated Multi-Family Building, Bywater

728 DESIRE Street, New Orleans, LA 70117

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For Sale

$999,000

MULTI_FAMILY - New Orleans, LA

Type:Apartment

Property size:

4,480 SF

Lot size:

0.19 Acres

Price / SF:

$222/SF

HighLights

Completely renovated in 2019.
High occupancy multi‑family apartment building with stabilized in‑place cash flow.
Six apartments totaling 4,495 SF of rentable space.
Off‑street parking.
Located in the Bywater Neighborhood of New Orleans, near retailers, schools, and places of work.
Security cameras.

We can help!

Listing Contact

Phillipa Bowers

For Sale

$999,000

MULTI_FAMILY - New Orleans, LA

Type:Apartment

Property size:

4,480 SF

Lot size:

0.19 Acres

Price / SF:

$222/SF

Added:: Mar 1, 2025
Days on Market:: 468
Last Refresh:: Jun 12 at 1:06 pm

Property Features for 728 DESIRE Street

General Information

Property type: Residential Multi Family
Property subtype: Apartment
Parking features: Off Street
Security features: Security
Exterior features: Security Cameras
Standard status: Active
APN: 39W107816
Size: 4,480 SF
Lot size: 0.19 Acres

Taxes and HOA fees

Tax Description: SQ 173 LOT X OR 7 DESIRE 70X120 2/STORY BRICK/V 8/APTS C/R

Utilities

Heating system: Central
Cooling system: Central Air
Water source: Public

Building Details

Year built: 2019
Floors in Building: 1
Number of units: 6
Roof type: Asphalt, Shingle

We can help!

Listing Contact

Phillipa Bowers

Listing agent Phillipa Bowers

Listing office REVE, REALTORS 4827 Prytania St, New Orleans, LA

Listing date Mar 1, 2025

MLS# 2488071 Listing URL

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.

HighLights

Completely renovated in 2019.
High occupancy multi‑family apartment building with stabilized in‑place cash flow.
Six apartments totaling 4,495 SF of rentable space.
Off‑street parking.
Located in the Bywater Neighborhood of New Orleans, near retailers, schools, and places of work.
Security cameras.

Overview

This multi-family apartment building is located in the Bywater Neighborhood of New Orleans. The building offers 4,495 square feet of rentable space, comprising a total of 6 apartments, and includes off-street parking. The building was completely renovated in 2019. It is well-maintained and has stabilized in-place cash flow. The location offers proximity to surrounding neighborhoods, multiple retailers, schools, and places of work, which provides stability and rent appreciation. The lot size is 0.1928 acres and the property size is 4,480 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

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 (±1% cap)

NOI $79,707 @ 7.0% cap · market cap 7.98%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: New Orleans
County: Jefferson
State: Louisiana
Longitude: -90.041795
Latitude: 29.96335

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For sale
Apartment buildings
LA
New Orleans
70117
728 DESIRE Street

What type of property is this?

Apartment building - High occupancy, renovated multi-family building in New Orleans' Bywater neighborhood.

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: Completely renovated in 2019.; High occupancy multi‑family apartment building with stabilized in‑place cash flow.; Six apartments totaling 4,495 SF of rentable space.

728 DESIRE Street, New Orleans, LA 70117

MULTI_FAMILY - New Orleans, LA

Property Features for 728 DESIRE Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Canal Street Automotive Investment Opportunity

Mixed-Use Live/Work Building

Gutted Warehouse with Office

Historic Ground-Floor Office Space

Updated Duplex with Off-Street Parking

Turnkey New Construction Duplex

Uptown New Orleans Multi-Family Property

Historic Mixed-Use Building, New Orleans

Converted Triplex with Dual Driveways

Mixed-Use Commercial & Residential Property

Renovated Duplex in New Orleans

Restored Victorian Bed & Breakfast

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