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Building Details

Year Built 1900

Listing Agency: Felicity Property Co., LLC

Listed By: Jack Egle · License #995704008 Show Phone

Source: Lacdb.resimplifi

Added: Feb 3, 2025 Changed: Oct 15 Last Checked: Oct 14 at 7:45PM

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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 Felicity Property Co., LLC

Investment Insights

Based on property information with market context.

This 3,000-square-foot triplex, built in 1900, contains two updated one-bedroom, one-bath units and a two-bedroom, one-bath owner’s unit at the rear. Interior details include fireplace mantels, wood flooring, high ceilings with transoms, and pocket doors. Foundation work, electrical improvements, and plumbing updates have been completed. The property is offered fully furnished and includes a 450-square-foot electrified detached brick workshop for storage or creative use.

Located at 2109 Chartres St in New Orleans’ Marigny Triangle, the property is near Frenchmen Street. HMC-1 zoning and an existing B&B license provide documented use-related considerations for ownership and operation.

Key Highlights

• Three‑unit configuration: two 1‑bedroom/1‑bath units plus a 2‑bedroom/1‑bath owner’s unit
• 3,000 SF triplex built in 1900
• 450‑square‑foot electrified detached brick workshop

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,987

Cap Rate

4.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$759,740 $759.7K

Cap Rate 7%

$542,671 $542.7K

Cap Rate 9%

$422,078 $422.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$59.4K $19.80/SF

− Vacancy

−$5.1K −$1.71/SF

EGI

$54.3K $18.09/SF

− OpEx

−$16.3K −$5.43/SF

NOI

$38.0K $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%

$759,740

Cap Rate 7%

$542,671

Cap Rate 9%

$422,078

Alternative Uses

Best Use

Multifamily LT 5

$542.7K

$474.8K – $633.1K (±1% cap)

NOI $37,987 @ 7.0% cap · market cap 4.23%

Second Best

Apartment 5plus

$498.8K

$436.5K – $582.0K (±1% cap)

NOI $34,917 @ 7.0% cap · market cap 3.88%

Theoretical Best

Office A

$762.5K

$667.2K – $889.6K (±1% cap)

NOI $53,375 @ 7.0% cap · market cap 5.94%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Dental Office Kitchen & Bath Showroom Daycare Center HVAC Service Electrical Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

3,452

Businesses Nearby

Explore this area Business Placement

Demographics for 70116, LA

10,676

Population

9,620

Households

1.1

Avg Household Size

44

Median Age

50%

College-Educated

90%

High-School Grad

1.3 sq mi

ZIP Area

8,212

Density / Sq Mi

$45,580

Median Household Income

$34,849

Median Earnings

$1,190

Median Rent

$385,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three-unit property with furnished interiors, period details, and a detached brick workshop in New Orleans’ Marigny Triangle.

Where is this triplex located?

The property is located at 2109 Chartres St New Orleans, LA.

What is the asking price?

The asking price for this property is $899,000.

What are key features of this property?

This property features: Three‑unit configuration: two 1‑bedroom/1‑bath units plus a 2‑bedroom/1‑bath owner’s unit; 3,000 SF triplex built in 1900; 450‑square‑foot electrified detached brick workshop