Stabilized Multifamily Apartment
807 Bourbon Street New Orleans, LA 70116
For Sale
Contact for pricing
A nine-unit, all-one-bedroom multifamily building with seven units currently occupied on Bourbon Street.
Property Size3,228 SF
Price / SF$371.75
Days on Market17
Property Features for 807 Bourbon Street
General Information
- Standard status
- Active
- Size
- 3,228 SF
- Property subtype
- Multifamily
Listing Agency:
Bridgewater Realty Advisors
(504) 535-5680
Listed By:
Mason Mccullough · License #LA9705
Source:
Crexi
Added: Jul 7
Changed: Jul 23
Last Checked: Jul 23 at 2:41PM
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 Bridgewater Realty Advisors
Investment Insights
Based on property information with market context.
807 Bourbon Street is a multifamily apartment building featuring nine one-bedroom units. The property is currently partially occupied, with 7 of the 9 units leased, providing in-place rental income. The remaining vacancies offer potential for additional lease-up.
The building is situated directly on Bourbon Street in the French Quarter of New Orleans, placing residents within walkable access to local dining, entertainment, employment centers, and the area’s well-known culture.
This efficient one-bedroom unit mix is designed to support straightforward leasing across a broad renter base, with all units configured as one-bedroom apartments.
The building is situated directly on Bourbon Street in the French Quarter of New Orleans, placing residents within walkable access to local dining, entertainment, employment centers, and the area’s well-known culture.
This efficient one-bedroom unit mix is designed to support straightforward leasing across a broad renter base, with all units configured as one-bedroom apartments.
Key Highlights
- 9‑unit multifamily building with all one‑bedroom apartments
- Approximately 3,228 SF total building area
- 7 of 9 units currently occupied, providing in‑place income
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 | $75.1k | $23.28 |
| − Vacancy | −$6.8k | −$2.12 |
| EGI | $68.3k | $21.16 |
| − OpEx | −$30.7k | −$9.52 |
| NOI | $37.6k | $11.64 |
3,228 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$536.7K
$469.6K – $626.2K
NOI $37,570 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$820.5K
$717.9K – $957.2K
NOI $57,432 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - A nine-unit, all-one-bedroom multifamily building with seven units currently occupied on Bourbon Street.
Where is this apartment building located?
The property is located at 807 Bourbon Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 9‑unit multifamily building with all one‑bedroom apartments; Approximately 3,228 SF total building area; 7 of 9 units currently occupied, providing in‑place income
