Historic Multifamily Investment
1001 North Rampart Street New Orleans, LA 70116
1001 North Rampart Street, New Orleans, LA, 70116
$1,200,000
For Sale
$1,200,000
Historic, commercially zoned building can be separated into two units and offers 10 bedrooms and 5.5 bathrooms.
Property Size4,814 SF
Price / SF$249.27
Days on Market168
Property Features for 1001 North Rampart Street
General Information
- Standard status
- Active
- Size
- 4,814 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1940
Listing agency
eXp Realty, LLC
(504) 723-1010
Listed by
Kim Carnegie · License #995681108
(504) 723-1010
Source
Compass
Added: Feb 4 Updated: Jul 20 at 5:46PM Checked: Jul 21 at 7:04AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC
Investment Insights
Based on property information with market context.
This historic, commercially zoned building offers an approximately 4,800-square-foot interior footprint that can be separated into two units. The property includes a total of 10 bedrooms and 5.5 bathrooms, providing meaningful layout flexibility for income-producing use or redevelopment. Matterport virtual tour is available and attached.
The property is located on North Rampart Street in Treme, adjacent to Louis Armstrong Park and just outside the French Quarter. Its placement along a high-interest corridor supports strong visibility and convenient proximity to tourism, entertainment, and cultural destinations.
With a very large interior footprint and multi-room configuration, the building lends itself to multiple redevelopment possibilities, subject to renovations needed to reposition the asset.
The property is located on North Rampart Street in Treme, adjacent to Louis Armstrong Park and just outside the French Quarter. Its placement along a high-interest corridor supports strong visibility and convenient proximity to tourism, entertainment, and cultural destinations.
With a very large interior footprint and multi-room configuration, the building lends itself to multiple redevelopment possibilities, subject to renovations needed to reposition the asset.
Key Highlights
- Approximately 4,800 SF historic building on North Rampart St, commercially zoned in the heart of Treme
- Can be separated into two units, offering multiple redevelopment or income‑producing possibilities
- 10 bedrooms and 5.5 bathrooms (5 full + 1 partial) across two levels
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 | $95.3k | $19.80 |
| − Vacancy | −$8.2k | −$1.71 |
| EGI | $87.1k | $18.09 |
| − OpEx | −$26.1k | −$5.43 |
| NOI | $61.0k | $12.66 |
4,814 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$870.8K
$762.0K – $1.02M
NOI $60,957 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$800.4K
$700.4K – $933.8K
NOI $56,029 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,649 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Historic, commercially zoned building can be separated into two units and offers 10 bedrooms and 5.5 bathrooms.
Where is this duplex located?
The property is located at 1001 North Rampart Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Approximately 4,800 SF historic building on North Rampart St, commercially zoned in the heart of Treme; Can be separated into two units, offering multiple redevelopment or income‑producing possibilities; 10 bedrooms and 5.5 bathrooms (5 full + 1 partial) across two levels
