Greek Revival Fourplex
1010 PHILIP Street New Orleans, LA 70130
For Sale
$1,050,000
MULTI_FAMILY - New Orleans, LA
Property Size6,000 SF
Price / SF$175
Days on Market47
Property Features for 1010 PHILIP Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Exterior features
- Balcony, Courtyard, Fence
- Fencing
- Fenced
- Standard status
- Active
- APN
- 1010-PHILIPST
- Size
- 6,000 SF
Taxes and HOA fees
- Tax Description
- 1. SQ 133 LOT E-1 PHILIP ST 2. 53 X 127 1010/12 3. 1010 PHILIP ST
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1863
- Floors in Building
- 2
- Number of units
- 4
- Roof type
- Shingle
- Architectural style
- Victorian
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 799-1702
Listed By:
Nathalie Dubois · License #995703042
(504) 799-1702
Added: Jun 11
Changed: Jun 30
Last Checked: Jul 27 at 2:06AM
MLS# 2562595
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 Greek Revival fourplex offers four similarly laid-out residential units designed for comfortable everyday living. Each unit provides generous room sizes and high ceilings, with original historic details including wood floors, mantles, medallions, and light fixtures. Practical conveniences include large private laundry rooms, and the property features separated meters across the four units. Modern updates are also noted throughout, supporting functional, move-in-ready appeal while preserving the building’s period character.
The property is located at 1010 Philip Street, New Orleans, LA 70130, and is described as being just half a block from Magazine Street. The listing also notes space for a driveway with paving already at the road, which can be important for access and parking considerations in the surrounding area.
For buyers and operators seeking a small multifamily asset, this fourplex configuration can support straightforward leasing across four comparable units. The combination of separated meters and in-unit laundry can help differentiate the residences for tenants who value control and convenience. The property is also described as having the possibility to convert to condos or single-family use, which may appeal to buyers looking for flexibility in how the improvements are ultimately structured.
The property is located at 1010 Philip Street, New Orleans, LA 70130, and is described as being just half a block from Magazine Street. The listing also notes space for a driveway with paving already at the road, which can be important for access and parking considerations in the surrounding area.
For buyers and operators seeking a small multifamily asset, this fourplex configuration can support straightforward leasing across four comparable units. The combination of separated meters and in-unit laundry can help differentiate the residences for tenants who value control and convenience. The property is also described as having the possibility to convert to condos or single-family use, which may appeal to buyers looking for flexibility in how the improvements are ultimately structured.
Key Highlights
- Historic Victorian 4‑plex built in 1863 with Greek Revival style elements
- Four units, each about 1,500 SF, with a similar layout and generous room sizes
- Original wood floors, mantles, medallions, and light fixtures plus modern updates
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 7.24%
Second Best
Apartment 5plus
$997.6K
$872.9K – $1.16M
NOI $69,833 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,750 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Historic Greek Revival fourplex with four similarly laid-out units, separated meters, and private laundry rooms for income-oriented ownership.
Where is this quadplex located?
The property is located at 1010 PHILIP Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Historic Victorian 4‑plex built in 1863 with Greek Revival style elements; Four units, each about 1,500 SF, with a similar layout and generous room sizes; Original wood floors, mantles, medallions, and light fixtures plus modern updates
