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    Gated Quadplex with Off-Street Parking Title is generated by Realmo AI

    1608 Governor Nicholls Street, New Orleans, LA 70116

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    Claim this Listing
    For Sale
    $1,149,000

    Residential Multi Family, Other - New Orleans, LA

    Property size:
    6,945 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $165/SF
    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

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    Contact an agent
    Harry Varnadore
    Harry Varnadore

    Listing agent Harry Varnadore License #995705900,PersonLicenseNumber

    Listing office NextHome Premier Realtors 1605 Governor Nicholls St., LA

    Listing date Feb 19, 2025

    MLS# 2487921 Listing URL

    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

    This gated quadplex presents a meticulously restored historic residence arranged as four separate units. The primary unit is a larger 5-bedroom layout with 3½ bathrooms, complemented by three additional apartments, each with 1 bedroom and 1 bathroom. Interior highlights include an open floor plan, an extra-large kitchen designed as a chef’s space with custom cabinetry, marble counters, and a large center island, plus a separate butler’s pantry/wet bar area. Formal living and dining rooms support a comfortable flow for everyday living. Fireplaces are featured throughout, including the kitchen and all bedrooms. Exterior features include prominent balconies and a large, deep lot that provides room for hosting and future additions such as an in-ground pool.

    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
    6,945 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $1.26M
    $1.10M – $1.47M (±1% cap)
    NOI $87,941 @ 7.0% cap · market cap 7.65%
    Second Best
    Apartment 5plus
    $1.15M
    $1.01M – $1.35M (±1% cap)
    NOI $80,832 @ 7.0% cap · market cap 7.03%
    Theoretical Best
    Office A
    $1.77M
    $1.54M – $2.06M (±1% cap)
    NOI $123,563 @ 7.0% cap · market cap 10.75%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Treme Mansion Bed & Breakfast

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.0692749
    Latitude
    29.9675388

    FAQs

    What type of property is this?
    Quadplex - Four fully renovated units offer turnkey income potential in Historic Treme, with gated off-street parking for 10+ vehicles.
    Where is this quadplex located?
    The property is located at 1608 Governor Nicholls Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $1,149,000.
    More about this property
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