4-Unit Historic
For Sale
$1,000,000
1010 PHILIP Street, New Orleans, LA 70130
Multifamily, New Orleans, LA
Property Size6,000 SF
Price / SF$166.67
Days on Market137
Property Features for 1010 PHILIP Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 8, Bathroom 4, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 7, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 3
Standard status
Active
APN
1010-PHILIPST
Size
6,000 SF
Additional Details
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Description
1. SQ 133 LOT E-1 PHILIP ST 2. 53 X 127 1010/12 3. 1010 PHILIP ST
Legal Description
1. SQ 133 LOT E-1 PHILIP ST 2. 53 X 127 1010/12 3. 1010 PHILIP ST
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1863
Number of units
4
Building materials
Vinyl Siding, Wood Siding
Architectural style
Victorian
Listing Agency:
Berkshire Hathaway HS - Garden District/Uptown · Berkshire Hathaway HomeServices
(504) 799-1702
Listed By:
Nathalie J Dubois · License #995703042
(504) 610-0679
Added: Jun 11
Changed: Oct 23
Last Checked: Oct 25 at 2:06PM
MLS# 2562595
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 6,000-square-foot quadplex contains four apartments, each measuring 1,500 square feet and arranged in a similar layout. Interior details include wood flooring, mantels, decorative medallions, and original light fixtures. High ceilings and large private laundry rooms add to the unit features. The building dates to 1863 and has vinyl and wood siding, central heating, and central air conditioning.
The property is half a block from Magazine Street in New Orleans. Public water and sewer serve the building, and natural gas is available. Paving at the road is in place for a potential driveway.
The property is half a block from Magazine Street in New Orleans. Public water and sewer serve the building, and natural gas is available. Paving at the road is in place for a potential driveway.
Key Highlights
- Four apartments, each 1,500 square feet, within a 6,000‑square‑foot building
- Half a block from Magazine Street in New Orleans
- Private laundry rooms and separate meters in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,975
Cap Rate
7.60%
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 7.60%
Second Best
Apartment 5plus
$997.6K
$872.9K – $1.16M
NOI $69,833 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,750 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,968
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Apartments feature high ceilings, private laundry rooms, and separate utility meters.
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 $1,000,000.
What are key features of this property?
This property features: Four apartments, each 1,500 square feet, within a 6,000‑square‑foot building; Half a block from Magazine Street in New Orleans; Private laundry rooms and separate meters in each apartment
