Historic Fourplex with Separate
1411 TERPSICHORE Street New Orleans, LA 70130
1411 TERPSICHORE Street, New Orleans, LA, 70130
$889,000
For Sale
$889,000
MULTI_FAMILY - New Orleans, LA
Property Size4,990 SF
Price / SF$178.16
Days on Market91
Property Features for 1411 TERPSICHORE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Patio and Porch features
- Porch
- Exterior features
- Balcony, Courtyard, Porch
- Standard status
- Active
- APN
- 101105512
- Size
- 4,990 SF
Taxes and HOA fees
- Tax Description
- 1. SQ 193 LOT 9 TERPSICHORE ST 2. 36X128 3. 1411 TERPISCHORE ST
Utilities
- Heating system
- Central, Other (Heating), Ductless (Heating)
- Cooling system
- Wall Unit(s), Window Unit(s), Central Air, Ductless
- Water source
- Public
Building Details
- Year built
- 1850
- Floors in Building
- 2
- Number of units
- 4
- Roof type
- Shingle
Listing Agency
REVE, REALTORS
(504) 300-0700
4827 Prytania St, New Orleans, LA
Listed by
Lara Schultz · License #000075293
(504) 300-0700
Added: Apr 18 Checked: Jul 17 at 9:06 am
MLS# 2553725
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.
Investment Insights
Based on property information with market context.
This late-19th-century Greek Revival 4-plex features four spacious units with separate entrances and outdoor spaces. Interiors include high ceilings, antique heart-pine floors, exposed beams, cypress millwork, original transom windows, and ceiling medallions. Two units have been recently renovated with new kitchens, including quartz countertops, contemporary cabinetry, and stainless appliances. The property is described as tenant-ready, with separate electric meters serving each unit.
Located in New Orleans near Coliseum Square in the Lower Garden District, the building is noted as being one block from the St. Charles Avenue streetcar line. The listing also states the property is in Flood Zone X. Nearby points of reference mentioned include Magazine Street, Audubon Park, Tulane, and Loyola, each described as just minutes away.
For buyers seeking a residential income property in a historic architectural setting, this configuration provides four independent living spaces within a single asset and ongoing tenant functionality supported by separate metering. The presence of recent kitchen renovations in half the units may help reduce near-term interior work, while the separately metered setup can simplify utility management. The listing also states an immediate cash flow figure of $7,650 per month.
Located in New Orleans near Coliseum Square in the Lower Garden District, the building is noted as being one block from the St. Charles Avenue streetcar line. The listing also states the property is in Flood Zone X. Nearby points of reference mentioned include Magazine Street, Audubon Park, Tulane, and Loyola, each described as just minutes away.
For buyers seeking a residential income property in a historic architectural setting, this configuration provides four independent living spaces within a single asset and ongoing tenant functionality supported by separate metering. The presence of recent kitchen renovations in half the units may help reduce near-term interior work, while the separately metered setup can simplify utility management. The listing also states an immediate cash flow figure of $7,650 per month.
Key Highlights
- 4‑plex with historic Greek Revival architecture built in 1850
- 4 spacious units, each roughly 1,000–1,500 SF, with separate entrances and outdoor spaces
- One block from the St. Charles Avenue streetcar
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 | $98.8k | $19.80 |
| − Vacancy | −$8.5k | −$1.71 |
| EGI | $90.3k | $18.09 |
| − OpEx | −$27.1k | −$5.43 |
| NOI | $63.2k | $12.66 |
4,990 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$902.7K
$789.8K – $1.05M
NOI $63,186 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$829.7K
$726.0K – $968.0K
NOI $58,078 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,780 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Historic Greek Revival 4-plex with tenant-ready units, separate electric meters, and outdoor space for each residence.
Where is this quadplex located?
The property is located at 1411 TERPSICHORE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: 4‑plex with historic Greek Revival architecture built in 1850; 4 spacious units, each roughly 1,000–1,500 SF, with separate entrances and outdoor spaces; One block from the St. Charles Avenue streetcar
