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Lower Garden District Multifamily Property

1415-17 TERPSICHORE Street, New Orleans, LA 70130

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Pending

$974,999

MULTI_FAMILY - New Orleans, LA

Property size:

5,076 SF

HighLights

Fully leased, high‑income property generating $7900/month with a 9.7% gross ROI.
Four spacious, townhome‑style units, each with 3 bedrooms, 1 full and 1 half bath, and in‑unit laundry.
Prime Lower Garden District location: close to St. Charles Avenue, Magazine Street, and the French Quarter.
Investor‑friendly features: separate meters for each unit, central HVAC, updated kitchens with granite countertops and stainless steel appliances.
Timeless New Orleans character: hardwood floors, original brick fireplaces & mantels.
Potential for future upside through condo conversion for resale.

We can help!

Listing Contact

Betsy Richard

Pending

$974,999

MULTI_FAMILY - New Orleans, LA

Property size:

5,076 SF

Added:: Feb 4, 2026
Days on Market:: 128
Last Refresh:: Jun 12 at 3:06 am

Property Features for 1415-17 TERPSICHORE Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Patio and Porch features: Porch
Exterior features: Balcony, Courtyard, Fence, Porch
Fencing: Fenced
Standard status: Pending
APN: 1415-TERPSICHOREST
Size: 5,076 SF

Taxes and HOA fees

Tax Description: 1. SQ 193 TERPSICHORE ST 2. LOT 10 38.2X127.9 2/STY 3. 4 APTS 1415 TERPSICHORE ST & 1415 TERPSICHORE ST B

Utilities

Heating system: Central
Cooling system: Central Air
Water source: Public

Building Details

Year built: 1890
Floors in Building: 2
Number of units: 4
Roof type: Asphalt
Architectural style: Other

We can help!

Listing Contact

Betsy Richard

Listing agent Betsy Richard

Listing office Prime Real Estate Partners, LLC 1221 Beverly Garden Drive, Metairie, LA

Listing date Feb 4, 2026

MLS# 2539354 Listing URL

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.

HighLights

Fully leased, high‑income property generating $7900/month with a 9.7% gross ROI.
Four spacious, townhome‑style units, each with 3 bedrooms, 1 full and 1 half bath, and in‑unit laundry.
Prime Lower Garden District location: close to St. Charles Avenue, Magazine Street, and the French Quarter.
Investor‑friendly features: separate meters for each unit, central HVAC, updated kitchens with granite countertops and stainless steel appliances.
Timeless New Orleans character: hardwood floors, original brick fireplaces & mantels.
Potential for future upside through condo conversion for resale.

Overview

Located in the Lower Garden District of New Orleans, this multifamily property offers a blend of charm and income potential. The building is configured into four townhome-style units, each providing 1,229 square feet of living space. Each unit features a kitchen, living area, main-level bedroom, and half bath downstairs, along with two independent bedrooms, a full bath, and in-unit laundry upstairs. The property includes 11 bedrooms, 4 full baths, and 4 half baths in total. The units have central HVAC and separate water, gas, and electric meters. Kitchens are updated with granite countertops, stainless steel appliances, and dishwashers. Each unit also has a full-size washer and dryer. The property is located 1.5 blocks from St. Charles Avenue and one block from Magazine Street, near the Garden District Hotel and BlackBird Hotel. The property is a short streetcar ride from the French Quarter. The building has hardwood floors and original brick fireplaces and mantels. The roof was replaced post-Ida. The property is fully leased and generates $7900 per month in income. The property may have potential for future condo conversion.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$100.5k	$19.80
− Vacancy	−$8.7k	−$1.71
EGI	$91.8k	$18.09
− OpEx	−$27.5k	−$5.43
NOI	$64.3k	$12.66

5,076 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$918.2K

$803.4K – $1.07M (±1% cap)

NOI $64,275 @ 7.0% cap · market cap 6.59%

Second Best

Apartment 5plus

$844.0K

$738.5K – $984.7K (±1% cap)

NOI $59,079 @ 7.0% cap · market cap 6.06%

Theoretical Best

Office A

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,311 @ 7.0% cap · market cap 9.26%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Quadplexes

Suggested Use

Location Insight

Map
Local Demand

City: New Orleans
County: Jefferson
State: Louisiana
Longitude: -90.073868
Latitude: 29.937494

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For sale
Quadplexes
LA
New Orleans
70130
1415-17 TERPSICHORE Street

What type of property is this?

Quadplex - Fully leased, high-income multifamily property in New Orleans.

Where is this quadplex located?

The property is located at 1415-17 TERPSICHORE Street New Orleans, LA.

What is the asking price?

The asking price for this property is $974,999.

What are key features of this property?

This property features: Fully leased, high‑income property generating $7900/month with a 9.7% gross ROI.; **Four spacious, townhome‑style units, each with 3 bedrooms, 1 full and 1 half bath, and in‑unit laundry.**; Prime Lower Garden District location: close to St. Charles Avenue, Magazine Street, and the French Quarter.

1415-17 TERPSICHORE Street, New Orleans, LA 70130

MULTI_FAMILY - New Orleans, LA

Property Features for 1415-17 TERPSICHORE Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Canal Street Automotive Investment Opportunity

Mixed-Use Live/Work Building

Gutted Warehouse with Office

Historic Ground-Floor Office Space

Updated Duplex with Off-Street Parking

Turnkey New Construction Duplex

Uptown New Orleans Multi-Family Property

Historic Mixed-Use Building, New Orleans

Mixed-Use Commercial & Residential Property

Renovated Duplex in New Orleans

Restored Victorian Bed & Breakfast

Owner-Occupy Duplex with Sunroom

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