Historic Triplex With Front
New
For Sale
$580,000
2704 BURGUNDY Street, New Orleans, LA 70117
Multi-Family, New Orleans, LA
Property Size1,980 SF
Lot Size0.07 Acres
Price / SF$292.93
Days on Market3
Property Features for 2704 BURGUNDY Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Lot features
Regular
Subdivision
Marigny
Standard status
Active
APN
12
Size
1,980 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
SQ 254 LOT 21 BURGUNDY 29x100 SGLE 1/ST FR 8/RMS C/R (2AP TS) & REAR 2/ST FR SGLE5/RM S C/R SEE E REC
Legal Description
SQ 254 LOT 21 BURGUNDY 29x100 SGLE 1/ST FR 8/RMS C/R (2AP TS) & REAR 2/ST FR SGLE5/RM S C/R SEE E REC
Utilities
Heating system
Ductless (Heating), Other (Heating)
Cooling system
Ductless, Wall Unit(s)
Water source
Public
Building Details
Year built
1873
Floors in Building
2
Number of units
3
Roof type
Shingle
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Nayelly Barrios
(956) 458-5449
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 10 at 5:06AM
MLS# 2576266
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.
Built in 1873, this 1,980-square-foot triplex includes two one-bedroom, one-bath residences and one two-bedroom, one-bath residence. The property retains traditional New Orleans details, including hardwood floors, high ceilings, shutters, and a front porch. Recent work includes new water heaters, refrigerators, ranges, a microwave, plumbing repairs, ceiling improvements, interior painting, balcony support remediation, and releveling and mortar-joint repairs. Ductless mini-split systems were added to the front and middle units.
The 0.07-acre property is located on Burgundy Street in New Orleans’ Marigny area, near the French Quarter, Mississippi River, and Crescent Park. Public water service, shingle roofing, and off-street parking are also in place.
The 0.07-acre property is located on Burgundy Street in New Orleans’ Marigny area, near the French Quarter, Mississippi River, and Crescent Park. Public water service, shingle roofing, and off-street parking are also in place.
Key Highlights
- Triplex with two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit
- 1,980 square feet on a 0.07‑acre lot
- Built in 1873 with hardwood floors, tall ceilings, shutters, and a front porch
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
$25,072
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
4.32%
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%
$501,440
$501.4K
Cap Rate 7%
$358,171
$358.2K
Cap Rate 9%
$278,578
$278.6K
Market Conditions
NOI Build-Up for 1,980 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
$39.2K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.8K $18.09/SF
− OpEx
−$10.7K −$5.43/SF
NOI
$25.1K $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%
$501,440
Cap Rate 7%
$358,171
Cap Rate 9%
$278,578
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,072 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$329.2K
$288.1K – $384.1K
NOI $23,045 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$503.3K
$440.4K – $587.1K
NOI $35,228 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with varied layouts, updated systems, off-street parking, and a New Orleans location near the French Quarter.
Where is this triplex located?
The property is located at 2704 BURGUNDY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Triplex with two 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit; 1,980 square feet on a 0.07‑acre lot; Built in 1873 with hardwood floors, tall ceilings, shutters, and a front porch
