1010 PHILIP Street New Orleans, LA 70130
MULTI_FAMILY - New Orleans, LA
- Added:
- Jun 11, 2026
- Days on Market:
- 33
- Last Refresh:
- Jul 13 at 10:06 am
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 agent Nathalie Dubois License #995703042 (504) 799-1702
Listing office Berkshire Hathaway HomeServices Preferred, REALTOR 4018 Magazine St., New Orleans, LA (504) 799-1702
Listing date Jun 11, 2026
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.
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
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 | $118.8k | $19.80 |
| − Vacancy | −$10.3k | −$1.71 |
| EGI | $108.5k | $18.09 |
| − OpEx | −$32.6k | −$5.43 |
| NOI | $76.0k | $12.66 |
