Victorian Duplex with Two
1206-08 Milan Street New Orleans, LA 70115
1206-08 Milan Street, New Orleans, LA, 70115
$1,400,000
For Sale
$1,400,000
Move-in ready duplex features two-bedroom, two-bath owner’s unit plus separate two-bedroom, two-bath apartment.
Property Size6,185 SF
Price / SF$226.35
Days on Market31
Property Features for 1206-08 Milan Street
General Information
- Standard status
- Active
- Size
- 6,185 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1911
Listing agency
REMAX N.O. Properties
(504) 417-2458
Listed by
Edward Cullen · License #995705457
(504) 417-2458
Source
Compass
Added: Jun 22 Updated: Jul 22 at 6:17AM Checked: Jul 22 at 6:17AM
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 REMAX N.O. Properties
Investment Insights
Based on property information with market context.
This Victorian duplex includes a large owner’s unit with two bedrooms and two full baths, alongside a separate two-bedroom, two-bath apartment. The owner’s unit offers soaring 12-foot ceilings, pocket doors, hardwood floors, a beveled glass front door, and a foyer that opens to formal living and dining rooms. A spacious kitchen and den overlook the backyard and include cypress cabinetry and a pantry, with access to a large rear porch. The home totals five bedrooms, three full baths, and two half baths, with a primary suite featuring dual closets and an upstairs laundry room. A third-floor bonus room adds flexible space, and the property also includes a storage shed.
The address is 1206-08 Milan Street in New Orleans, described as an Uptown location between St. Charles Avenue and Magazine Street. The owner’s unit includes private outdoor space with room for a lounge-style pool, gardens, and gatherings.
The roof was replaced in 2021, supporting straightforward occupancy in this move-in ready residence that can accommodate rental income, guests, or multi-generational living through the separate apartment.
The address is 1206-08 Milan Street in New Orleans, described as an Uptown location between St. Charles Avenue and Magazine Street. The owner’s unit includes private outdoor space with room for a lounge-style pool, gardens, and gatherings.
The roof was replaced in 2021, supporting straightforward occupancy in this move-in ready residence that can accommodate rental income, guests, or multi-generational living through the separate apartment.
Key Highlights
- Move‑in ready duplex with a 2‑bedroom, 2‑bath owner’s unit plus a separate 2‑bedroom, 2‑bath apartment
- Victorian home with 3 stories, 12‑foot ceilings, pocket doors, hardwood floors, and a beveled glass front door
- Roof replaced in 2021
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 | $83.1k | $13.44 |
| − Vacancy | −$7.2k | −$1.16 |
| EGI | $75.9k | $12.28 |
| − OpEx | −$22.8k | −$3.68 |
| NOI | $53.2k | $8.60 |
6,185 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$759.4K
$664.5K – $886.0K
NOI $53,161 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$673.2K
$589.1K – $785.4K
NOI $47,125 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,225 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Move-in ready duplex features two-bedroom, two-bath owner’s unit plus separate two-bedroom, two-bath apartment.
Where is this duplex located?
The property is located at 1206-08 Milan Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Move‑in ready duplex with a 2‑bedroom, 2‑bath owner’s unit plus a separate 2‑bedroom, 2‑bath apartment; Victorian home with 3 stories, 12‑foot ceilings, pocket doors, hardwood floors, and a beveled glass front door; Roof replaced in 2021
