1608 Governor Nicholls Street, New Orleans, LA 70116
Residential Multi Family, Other - New Orleans, LA
- Added:
- Feb 19, 2025
- Days on Market:
- 493
- Last Refresh:
- Jun 27 at 5:06 pm
Property Features for 1608 Governor Nicholls Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 8
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Standard status
- Active
- Size
- 6,945 SF
- Lot size
- 0.26 Acres
Building Details
- Year built
- 1855
- Architectural style
- Other
Listing agent Harry Varnadore License #995705900,PersonLicenseNumber (504) 450-6916
Listing office NextHome Premier Realtors 1605 Governor Nicholls St., LA (504) 450-6916
Listing date Feb 19, 2025
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Overview
Located in Historic Treme, the property is only blocks from the French Quarter, with easy walking access to historic shops, neighborhood restaurants, bars and pubs, coffee houses, and French Quarter tours and attractions.
For buyers or operators seeking a restored multi-family asset in one of New Orleans’ most established historic areas, the clear unit configuration and gated off-street parking make the property practical for both resident comfort and day-to-day operations. Off-street parking for 10+ vehicles is provided behind an automatic driveway gate.
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 | $137.5k | $19.80 |
| − Vacancy | −$11.9k | −$1.71 |
| EGI | $125.6k | $18.09 |
| − OpEx | −$37.7k | −$5.43 |
| NOI | $87.9k | $12.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.0692749
- Latitude
- 29.9675388