6-Unit Apartment
For Sale
$999,000
728 DESIRE Street, New Orleans, LA 70117
Multifamily, New Orleans, LA
Property Size4,480 SF
Lot Size0.19 Acres
Price / SF$222.99
Days on Market602
Property Features for 728 DESIRE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
7
Full bathrooms
6
Half bathrooms
2
Rooms
Bathroom 4, Bedroom 4, Bathroom 7, Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 6, Bathroom 8, Bedroom 2, Bedroom 1, Bathroom 5
Parking
3
Parking features
Off Street
Subdivision
Bywater
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
Legal Description
SQ 173 LOT X OR 7 DESIRE 70X120 2/STORY BRICK/V 8/APTS C/R
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2019
Number of units
6
Building materials
Brick
Buildings
1
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Phillipa Bowers · License #995703036
(504) 884-3893
Added: Mar 1, 2025
Changed: Oct 23
Last Checked: Oct 24 at 10:06AM
MLS# 2488071
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This brick apartment property contains six units and was extensively renovated in 2019. Central heating and air conditioning serve the building, with off-street parking available.
The property is in New Orleans’ Bywater neighborhood, near retailers, schools, and workplaces.
The property is in New Orleans’ Bywater neighborhood, near retailers, schools, and workplaces.
Key Highlights
- Six apartments in a brick building
- Renovation completed in 2019
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,142
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,840
$1.0M
Cap Rate 7%
$744,886
$744.9K
Cap Rate 9%
$579,356
$579.4K
Market Conditions
NOI Build-Up for 4,480 SF
Gross rent
$104.3K $23.28/SF
− Vacancy
−$9.5K −$2.12/SF
EGI
$94.8K $21.16/SF
− OpEx
−$42.7K −$9.52/SF
NOI
$52.1K $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 Rate 5%
$1,042,840
Cap Rate 7%
$744,886
Cap Rate 9%
$579,356
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated in 2019, the brick property offers off-street parking for residents.
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: Six apartments in a brick building; Renovation completed in 2019; Off‑street parking
