Renovated Duplex with Central
8533-35 Forshey Street New Orleans, LA 70118
8533-35 Forshey Street, New Orleans, LA, 70118
$229,000
For Sale
$229,000
Renovated duplex with two 2-bedroom units, central HVAC, and off-street parking; fully leased with tenants paying utilities.
Property Size1,512 SF
Price / SF$151.46
Days on Market185
Property Features for 8533-35 Forshey Street
General Information
- Standard status
- Active
- Size
- 1,512 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1930
Listing agency
REVE, REALTORS
(504) 610-5637
Listed by
Joey Walker · License #995699523
(504) 610-5637
Source
Compass
Added: Jan 19 Updated: Jul 22 at 5:00PM Checked: Jul 22 at 5:00PM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This renovated duplex offers two shotgun-style units, each with 2 bedrooms and 1 bathroom. Kitchens and baths are updated, and the property includes central HVAC. Off-street parking is available, and the duplex is fully leased.
The property is located in New Orleans, approximately four blocks from South Carrollton Avenue, with convenient access to I-10 and public transportation. Nearby shopping is noted as part of the surrounding area.
For sale as an individual property, it is also available as part of a seven-property package on the same square. A 48-hour notice is required for showings, and the listing is shown to pre-approved buyers.
The property is located in New Orleans, approximately four blocks from South Carrollton Avenue, with convenient access to I-10 and public transportation. Nearby shopping is noted as part of the surrounding area.
For sale as an individual property, it is also available as part of a seven-property package on the same square. A 48-hour notice is required for showings, and the listing is shown to pre-approved buyers.
Key Highlights
- Renovated 1930 duplex with 2 units, each offering 2 bedrooms and 1 full bathroom
- Central air and central heating for the units
- Updated kitchens and updated baths
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 | $29.9k | $19.80 |
| − Vacancy | −$2.6k | −$1.71 |
| EGI | $27.4k | $18.09 |
| − OpEx | −$8.2k | −$5.43 |
| NOI | $19.1k | $12.66 |
1,512 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$273.5K
$239.3K – $319.1K
NOI $19,146 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$251.4K
$220.0K – $293.3K
NOI $17,598 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$384.3K
$336.3K – $448.4K
NOI $26,901 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Renovated duplex with two 2-bedroom units, central HVAC, and off-street parking; fully leased with tenants paying utilities.
Where is this duplex located?
The property is located at 8533-35 Forshey Street New Orleans, LA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Renovated 1930 duplex with 2 units, each offering 2 bedrooms and 1 full bathroom; Central air and central heating for the units; Updated kitchens and updated baths
