Corner Triplex with Shared
1141 Frenchmen Street New Orleans, LA 70116
For Sale
$639,000
Triplex conversion on a corner lot with two units on the first floor and a four-bedroom upstairs unit.
Property Size3,364 SF
Price / SF$189.95
Days on Market474
Property Features for 1141 Frenchmen Street
General Information
- Standard status
- Active
- Size
- 3,364 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1898
Listing Agency:
LATTER & BLUM (LATT28)
(504) 616-6742
Listed By:
Kate Patin
(504) 616-6742
Source:
Compass
Added: Apr 6, 2025
Changed: Jul 21
Last Checked: Jul 23 at 10:23AM
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 LATTER & BLUM (LATT28)
Investment Insights
Based on property information with market context.
This corner triplex was converted from a former corner store and offers three residential units with separate electric and gas services. The first floor includes Unit 101, a two-bedroom/two-bath layout with a full kitchen and laundry, along with Unit 102, a newly renovated one-bedroom and bath efficiency. The upstairs unit is a spacious four-bedroom, two-bath home with laundry and overlooks the community garden.
The units share a water meter, and the property is in Flood Zone X500L. The roof is less than three years old, and ample street parking is available.
No sign is currently on the property. Measurements are approximate and not guaranteed.
The units share a water meter, and the property is in Flood Zone X500L. The roof is less than three years old, and ample street parking is available.
No sign is currently on the property. Measurements are approximate and not guaranteed.
Key Highlights
- Corner‑lot triplex conversion with 3 units: two first‑floor units plus a spacious four‑bedroom upstairs unit
- First‑floor units include Unit 101 (2 bed, 2 bath) and Unit 102 (newly renovated 1 bed, 1 bath efficiency) with full kitchen and indoor laundry
- Upstairs owner’s unit features 4 bedrooms, 2 baths, indoor laundry, and overlooks the community garden
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 | $66.6k | $19.80 |
| − Vacancy | −$5.8k | −$1.71 |
| EGI | $60.9k | $18.09 |
| − OpEx | −$18.3k | −$5.43 |
| NOI | $42.6k | $12.66 |
3,364 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$608.5K
$532.5K – $710.0K
NOI $42,597 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$559.3K
$489.4K – $652.6K
NOI $39,153 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$855.0K
$748.1K – $997.5K
NOI $59,851 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex conversion on a corner lot with two units on the first floor and a four-bedroom upstairs unit.
Where is this triplex located?
The property is located at 1141 Frenchmen Street New Orleans, LA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Corner‑lot triplex conversion with 3 units: two first‑floor units plus a spacious four‑bedroom upstairs unit; First‑floor units include Unit 101 (2 bed, 2 bath) and Unit 102 (newly renovated 1 bed, 1 bath efficiency) with full kitchen and indoor laundry; Upstairs owner’s unit features 4 bedrooms, 2 baths, indoor laundry, and overlooks the community garden
