Historic Tri-Plex with Outdoor
2921 LEPAGE Street New Orleans, LA 70116
2921 LEPAGE Street, New Orleans, LA, 70116
$799,000
For Sale
$799,000
MULTI_FAMILY - New Orleans, LA
Property Size3,056 SF
Price / SF$261.45
Days on Market74
Property Features for 2921 LEPAGE Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Exterior features
- Courtyard, Fence
- Fencing
- Fenced
- Standard status
- Active
- APN
- 2921
- Size
- 3,056 SF
Taxes and HOA fees
- Tax Description
- 1. SQS 1525-1526 LOTS A-PTS 2. K L M 35/27 X 125/135 3. TP/FR 14/RM S/R
Utilities
- Heating system
- Central
- Cooling system
- Window Unit(s), Wall Unit(s), Ductless, Central Air
- Water source
- Public
Building Details
- Year built
- 1913
- Floors in Building
- 2
- Number of units
- 3
- Roof type
- Shingle
- Architectural style
- Victorian
Listing Agency
Keller Williams Realty New Orleans
(504) 862-0100
8601 Leake Ave., New Orleans, LA
Listed by
Helene Barnett
(504) 862-0100
Added: May 7 Checked: Jul 19 at 5:06 am
MLS# 2557123
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 historic tri-plex includes three residential units with a total of five bedrooms and 3.5 baths. The property features soaring ceilings and gleaming hardwood floors, along with freshly painted interiors. Historic details such as mantles, original ceiling medallions, a proper southern porch, and French doors are carried throughout. Unit layouts are described as providing independent bedrooms and strong floor plans, with additional interior and exterior access elements including a second-unit loft area and a third-unit exterior stair entry at the rear of the property.
The home sits on LePage Street in New Orleans, in the Bayou St. John area. The listing emphasizes professionally landscaped grounds and a secluded outdoor oasis that is accessible for all units to enjoy, with immediate access from the third unit. The remarks also describe proximity to Esplanade Avenue and neighborhood amenities, as well as Bayou St. John and nearby recreational and cultural destinations.
This configuration can suit a homeowner looking to occupy one unit while renting the others to offset expenses. For investors, the property presents as a three-unit income asset with multiple bedroom and bath combinations across units, including a one-bedroom, one-bath third unit with outdoor access. The combination of historic character, established floor plans, and interior updates such as fresh paint and hardwood flooring may appeal to tenants seeking a traditional New Orleans home.
The home sits on LePage Street in New Orleans, in the Bayou St. John area. The listing emphasizes professionally landscaped grounds and a secluded outdoor oasis that is accessible for all units to enjoy, with immediate access from the third unit. The remarks also describe proximity to Esplanade Avenue and neighborhood amenities, as well as Bayou St. John and nearby recreational and cultural destinations.
This configuration can suit a homeowner looking to occupy one unit while renting the others to offset expenses. For investors, the property presents as a three-unit income asset with multiple bedroom and bath combinations across units, including a one-bedroom, one-bath third unit with outdoor access. The combination of historic character, established floor plans, and interior updates such as fresh paint and hardwood flooring may appeal to tenants seeking a traditional New Orleans home.
Key Highlights
- 1913 Victorian tri‑plex with 3 units and 5 bedrooms plus 3.5 baths total
- Market rent for the three units combined reported as $6,100
- Independent layouts with hardwood floors and historic details including mantles, ceiling medallions, porch, and French doors
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 | $60.5k | $19.80 |
| − Vacancy | −$5.2k | −$1.71 |
| EGI | $55.3k | $18.09 |
| − OpEx | −$16.6k | −$5.43 |
| NOI | $38.7k | $12.66 |
3,056 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$552.8K
$483.7K – $645.0K
NOI $38,697 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$508.1K
$444.6K – $592.8K
NOI $35,568 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$776.7K
$679.6K – $906.2K
NOI $54,371 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit tri-plex featuring multiple bedrooms, freshly painted interiors, and a shared outdoor relaxation space.
Where is this triplex located?
The property is located at 2921 LEPAGE Street New Orleans, LA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 1913 Victorian tri‑plex with 3 units and 5 bedrooms plus 3.5 baths total; Market rent for the three units combined reported as $6,100; Independent layouts with hardwood floors and historic details including mantles, ceiling medallions, porch, and French doors
