Greek Revival
For Sale
$1,200,000
Pending
1010 12 PHILIP Street, New Orleans, LA 70130
Four similarly laid-out units with private laundry rooms, separated meters, and original historic interior features.
Property Size6,000 SF
Days on Market540
Property Features for 1010 12 PHILIP Street
General Information
Standard status
Pending
Size
6,000 SF
Property subtype
Multi Family
Building Details
Year Built
1863
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Nathalie Dubois · License #995703042
(504) 610-0679
Source:
Exitrealty
Added: May 2, 2025
Changed: Sep 29
Last Checked: Sep 30 at 9:12AM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located just half a block from Magazine Street, this Greek Revival 4-plex offers four similarly laid-out units. Each unit features generous rooms and high ceilings, along with large private laundry rooms and separated meters. Historic character is highlighted by original wood floors, mantles, medallions, and light fixtures, while modern updates support day-to-day comfort and function.
A driveway is possible, with paving already at the road, providing an added convenience for off-street access. The property is offered for sale at 1010 12 PHILIP Street in New Orleans, Louisiana.
The building’s configuration is also described as convertible, with potential to be turned into condos or single-family homes, depending on the desired redevelopment plan.
A driveway is possible, with paving already at the road, providing an added convenience for off-street access. The property is offered for sale at 1010 12 PHILIP Street in New Orleans, Louisiana.
The building’s configuration is also described as convertible, with potential to be turned into condos or single-family homes, depending on the desired redevelopment plan.
Key Highlights
- Greek Revival 4‑plex built in 1863, located half a block from Magazine Street
- Four 1,500 sqft units with similar layouts and generous room sizes
- Each unit includes a large private laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,975
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,519,500
$1.5M
Cap Rate 7%
$1,085,357
$1.1M
Cap Rate 9%
$844,167
$844.2K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$118.8K $19.80/SF
− Vacancy
−$10.3K −$1.71/SF
EGI
$108.5K $18.09/SF
− OpEx
−$32.6K −$5.43/SF
NOI
$76.0K $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 Rate 5%
$1,519,500
Cap Rate 7%
$1,085,357
Cap Rate 9%
$844,167
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$949.7K – $1.27M
NOI $75,975 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$997.6K
$872.9K – $1.16M
NOI $69,833 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,750 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four similarly laid-out units with private laundry rooms, separated meters, and original historic interior features.
Where is this quadplex located?
The property is located at 1010 12 PHILIP 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: Greek Revival 4‑plex built in 1863, located half a block from Magazine Street; Four 1,500 sqft units with similar layouts and generous room sizes; Each unit includes a large private laundry room
