8-Unit Apartment
For Sale
$1,650,000
7930 Plum St, New Orleans, LA 70118
Well-maintained multifamily property with varied unit layouts, off-street parking, and a shared backyard.
Property Size8,884 SF
Price / SF$185.73
Days on Market54
Property Features for 7930 Plum St
General Information
Standard status
Active
Size
8,884 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR, 4 x 1BR
Multifamily Units
8
Amenities
in-unit laundry
shared backyard
Building Details
Year Built
1932
Listing Agency:
United Real Estate Partners LLC
(504) 452-7631
Listed By:
Thomas Bookhardt · License #995716142
Source:
Dominionplace
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 31 at 6:27PM
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 United Real Estate Partners LLC
Investment Insights
Based on property information with market context.
This 8-unit apartment building includes four two-bedroom residences and four one-bedroom basement units. The larger apartments feature high ceilings, heart pine flooring, abundant natural light, and in-unit laundry. The property contains 8,884 square feet and is described as well maintained.
Four off-street parking spaces serve the property, along with a large shared backyard. The building is located on Plum St in New Orleans, Louisiana, within the East Carrollton area.
Four off-street parking spaces serve the property, along with a large shared backyard. The building is located on Plum St in New Orleans, Louisiana, within the East Carrollton area.
Key Highlights
- 8,884‑square‑foot apartment building with 8 units
- Four 2‑bedroom units with high ceilings and heart pine floors
- Four 1‑bedroom basement units
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
$103,399
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
6.27%
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%
$2,067,980
$2.1M
Cap Rate 7%
$1,477,129
$1.5M
Cap Rate 9%
$1,148,878
$1.1M
Market Conditions
NOI Build-Up for 8,884 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
$206.8K $23.28/SF
− Vacancy
−$18.8K −$2.12/SF
EGI
$188.0K $21.16/SF
− OpEx
−$84.6K −$9.52/SF
NOI
$103.4K $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%
$2,067,980
Cap Rate 7%
$1,477,129
Cap Rate 9%
$1,148,878
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.29M – $1.72M
NOI $103,399 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.63M
NOI $158,061 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,472
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 multifamily property with varied unit layouts, off-street parking, and a shared backyard.
Where is this apartment building located?
The property is located at 7930 Plum St New Orleans, LA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 8,884‑square‑foot apartment building with 8 units; Four 2‑bedroom units with high ceilings and heart pine floors; Four 1‑bedroom basement units
