Greek Revival
1010 12 PHILIP Street New Orleans, LA 70130
For Sale
$1,200,000
Pending
Four similarly laid-out units with private laundry rooms, separated meters, and original historic interior features.
Property Size6,000 SF
Days on Market463
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) 610-0679
Listed By:
Nathalie Dubois · License #995703042
(504) 610-0679
Source:
Exitrealty
Added: Apr 18, 2025
Changed: Jul 23
Last Checked: Jul 23 at 11:58AM
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
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 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 | $118.8k | $19.80 |
| − Vacancy | −$10.3k | −$1.71 |
| EGI | $108.5k | $18.09 |
| − OpEx | −$32.6k | −$5.43 |
| NOI | $76.0k | $12.66 |
6,000 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
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
