Nine-Unit Multifamily
For Sale
$3,195,000
917-25 Washington Avenue, New Orleans, LA 70130
Three structures contain updated one- and two-bedroom residences with shared outdoor amenities and select off-street parking.
Property Size10,242 SF
Price / SF$311.95
Days on Market334
Property Features for 917-25 Washington Avenue
General Information
Standard status
Active
Size
10,242 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Occupancy
100%
Additional Details
Multifamily Units
9
Amenities
heated saltwater pool
jacuzzi
outdoor kitchen
shower
full bath
music studio
yoga space
central AC/heat
in-unit or common laundry
off-street parking
Central Air
Central
1
13
15
Security System
Asphalt
Other
2
In Ground
Courtyard, Outdoor Shower, Outdoor Kitchen
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1900
Buildings
3
Listing Agency:
Engel & Voelkers New Orleans
(504) 906-7428
Listed By:
Francesca Brennan · License #912122600
(504) 906-7428
Source:
Compass
Added: Oct 2, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:21PM
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 Engel & Voelkers New Orleans
Investment Insights
Based on property information with market context.
This multifamily property comprises three separate homes with nine total units: a fourplex, a triplex, and a duplex. The one- and two-bedroom residences feature renovated kitchens and bathrooms completed between 2019 and 2024, central air conditioning and heat, fresh paint, and a combination of in-unit and common laundry. Select units include off-street parking. The property has been fully occupied and was built in 1900.
A private outdoor area includes a heated saltwater pool, jacuzzi, outdoor kitchen, shower, full bath, music studio, and yoga space. The property is located at 917-25 Washington Avenue in New Orleans’ Irish Channel, steps from Magazine Street restaurants, cafes, and boutiques.
A private outdoor area includes a heated saltwater pool, jacuzzi, outdoor kitchen, shower, full bath, music studio, and yoga space. The property is located at 917-25 Washington Avenue in New Orleans’ Irish Channel, steps from Magazine Street restaurants, cafes, and boutiques.
Key Highlights
- Nine total units across a fourplex, triplex, and duplex
- Kitchens and bathrooms renovated between 2019 and 2024
- Fully occupied multifamily property
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
$129,689
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
4.06%
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%
$2,593,780
$2.6M
Cap Rate 7%
$1,852,700
$1.9M
Cap Rate 9%
$1,440,989
$1.4M
Market Conditions
NOI Build-Up for 10,242 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
$202.8K $19.80/SF
− Vacancy
−$17.5K −$1.71/SF
EGI
$185.3K $18.09/SF
− OpEx
−$55.6K −$5.43/SF
NOI
$129.7K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,593,780
Cap Rate 7%
$1,852,700
Cap Rate 9%
$1,440,989
Alternative Uses
Best Use
Multifamily LT 5
$1.85M
$1.62M – $2.16M
NOI $129,689 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$1.70M
$1.49M – $1.99M
NOI $119,205 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$2.60M
$2.28M – $3.04M
NOI $182,222 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,890
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
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?
Multifamily property - Three structures contain updated one- and two-bedroom residences with shared outdoor amenities and select off-street parking.
Where is this multifamily property located?
The property is located at 917-25 Washington Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: Nine total units across a fourplex, triplex, and duplex; Kitchens and bathrooms renovated between 2019 and 2024; Fully occupied multifamily property
