Camelback Multifamily
817 Cherokee Street, New Orleans, LA 70118
For Sale
$589,000
Built in 1917, the property has central air conditioning and a camelback configuration.
Property Size3,108 SF
Price / SF$189.45
Days on Market24
Property Features for 817 Cherokee Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Amenities
Central Air
Central
Other
Camelback
Building Details
Building Size
Year Built
Listing Agency:
Compass Uptown-Maple St
Listed By:
Elizabeth B McNulty · License LA SALE.995689813-ACT
(504) 908-0289
Source:
Evrealestate
Added: Oct 22
Changed: Nov 9
Last Checked: Nov 12 at 7:24AM
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 Compass Uptown-Maple St
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Investment Insights
Based on property information with market context.
This multifamily property in New Orleans dates to 1917 and features central air conditioning. Its exterior is identified as a camelback configuration.
The property is located at 817 Cherokee Street in Orleans Parish.
The property is located at 817 Cherokee Street in Orleans Parish.
Key Highlights
- 1917 construction
- Central air conditioning
- Camelback exterior configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,185
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$723,700
$723.7K
Cap Rate 7%
$516,929
$516.9K
Cap Rate 9%
$402,056
$402.1K
Market Conditions
NOI Build-Up for 3,109 SF
Gross rent
$72.4K $23.28/SF
− Vacancy
−$6.6K −$2.12/SF
EGI
$65.8K $21.16/SF
− OpEx
−$29.6K −$9.52/SF
NOI
$36.2K $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%
$723,700
Cap Rate 7%
$516,929
Cap Rate 9%
$402,056
Alternative Uses
Best Use
Apartment 5plus
$516.9K
$452.3K – $603.1K
NOI $36,185 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$790.2K
$691.4K – $921.9K
NOI $55,314 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,538
Businesses Nearby
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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
$451,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in New Orleans, LA
Properties on Market for Multifamily properties in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1917, the property has central air conditioning and a camelback configuration.
Where is this multifamily property located?
The property is located at 817 Cherokee Street New Orleans, LA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 1917 construction; Central air conditioning; Camelback exterior configuration
