Four-Apartment Residential Income
1325-29 Frenchmen Street New Orleans, LA 70116
For Sale
$999,000
Four bright apartments with hardwood floors and stainless steel appliances, with the option to convert into condominiums.
Property Size4,900 SF
Price / SF$203.88
Days on Market138
Property Features for 1325-29 Frenchmen Street
General Information
- Standard status
- Active
- Size
- 4,900 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 2019
Listing Agency:
Crescent Sotheby's International
(504) 638-5339
Listed By:
Axel Oestreicher · License #995704983
(504) 638-5339
Source:
Compass
Added: Mar 9
Changed: Jul 23
Last Checked: Jul 23 at 8:53AM
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 Crescent Sotheby's International
Investment Insights
Based on property information with market context.
Investment property consisting of four apartments. Each unit is described as bright and spacious, with hardwood floors, stainless steel appliances, sleek countertops, and soaring ceilings.
The property is located at 1325-29 Frenchmen Street in New Orleans, providing easy access to the Marigny and French Quarter.
The building can be separated into condominiums, offering flexibility for future ownership and structuring.
The property is located at 1325-29 Frenchmen Street in New Orleans, providing easy access to the Marigny and French Quarter.
The building can be separated into condominiums, offering flexibility for future ownership and structuring.
Key Highlights
- Investment property with 4 apartments in a 2‑story building built in 2019
- Each unit features hardwood floors, stainless steel appliances, sleek countertops, and soaring ceilings
- Possible to separate the property into condominiums
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 | $97.0k | $19.80 |
| − Vacancy | −$8.4k | −$1.71 |
| EGI | $88.6k | $18.09 |
| − OpEx | −$26.6k | −$5.43 |
| NOI | $62.0k | $12.66 |
4,900 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$886.4K
$775.6K – $1.03M
NOI $62,046 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$814.7K
$712.9K – $950.5K
NOI $57,030 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,179 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four bright apartments with hardwood floors and stainless steel appliances, with the option to convert into condominiums.
Where is this quadplex located?
The property is located at 1325-29 Frenchmen Street New Orleans, LA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Investment property with 4 apartments in a 2‑story building built in 2019; Each unit features hardwood floors, stainless steel appliances, sleek countertops, and soaring ceilings; Possible to separate the property into condominiums
