Renovated Multi-Family in
8331 NELSON Street, New Orleans, LA 70118
- Added:
- May 26, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 2 at 5:06 am
Property Features for 8331 NELSON Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 716321816
- Size
- 1,728 SF
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2006
- Floors in Building
- 1
- Number of units
- 1
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Danielle Atkins License #995680313 (504) 220-7297
Listing office Service 1st Real Estate 13013 Justice Ave, Baton Rouge, LA (225) 503-2525
Listing date May 26, 2026
MLS# 2559857
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
- Turnkey, renovated multi‑family double ideal for investors or owner‑occupants.
- Each unit features 3 bedrooms with indoor laundry room and functional layouts.
- Potential for strong rental income; both sides can rent for $1947 per HANO payment standards.
- Prime location with quick access to Ochsner Medical Center, Carrollton Corridor, and multiple universities.
- Major improvements include new plumbing, fully updated bathrooms, and a newly constructed front porch.
- Eligible for 100% financing and up to $3,000 in closing cost assistance through Hancock Whitney Bank and First Horizon Bank.
Overview
This renovated multi-family double is located in Hollygrove. Each unit features 3 bedrooms with an indoor laundry room. The property includes side entrances and a backyard. Interior upgrades include fresh paint, granite countertops, recessed lighting, new flooring in the bathroom and kitchen, and modern finishes. The original solid wood floors run through the family room and bedrooms. Major improvements include new plumbing, fully updated bathrooms, and a newly constructed front porch. The property is located near Ochsner Medical Center, the Carrollton Corridor, Tulane University, Xavier University of Louisiana, and Loyola University New Orleans. It is also located minutes from local dining, shopping, and outdoor attractions such as Longue Vue House and Gardens, City Park, and Audubon Park. It provides easy access to Downtown, Mid-City, and Uptown. The property is eligible for 100% financing and closing cost assistance through Hancock Whitney Bank and First Horizon Bank. The property size is 1728 square feet.
Local Financial Insights For Multifamily LT 5
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 | $34.2k | $19.80 |
| − Vacancy | −$3.0k | −$1.71 |
| EGI | $31.3k | $18.09 |
| − OpEx | −$9.4k | −$5.43 |
| NOI | $21.9k | $12.66 |
1,728 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$312.6K
$273.5K – $364.7K
NOI $21,881 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$287.3K
$251.4K – $335.2K
NOI $20,112 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$439.2K
$384.3K – $512.4K
NOI $30,744 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.121931
- Latitude
- 29.958932
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Turnkey multi-family property with strong rental income potential.
Where is this duplex located?
The property is located at 8331 NELSON Street New Orleans, LA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Turnkey, renovated multi‑family double ideal for investors or owner‑occupants.; Each unit features **3 bedrooms with indoor laundry room** and functional layouts.; Potential for **strong rental income; both sides can rent for $1947** per HANO payment standards.
