Gated Quadplex with Off-Street
1608 Governor Nicholls Street New Orleans, LA 70116
1608 Governor Nicholls Street, New Orleans, LA, 70116
$1,149,000
For Sale
$1,149,000
Residential Multi Family, Other - New Orleans, LA
Property Size6,945 SF
Lot Size0.26 Acres
Price / SF$165.44
Days on Market513
Property Features for 1608 Governor Nicholls Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 8
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Standard status
- Active
- Size
- 6,945 SF
- Lot size
- 0.26 Acres
Building Details
- Year built
- 1855
- Architectural style
- Other
Listing Agency
NextHome Premier Realtors
(504) 450-6916
1605 Governor Nicholls St., LA
Listed by
Harry Varnadore · License #995705900,PersonLicenseNumber
(504) 450-6916
Added: Feb 19, 2025 Checked: Jul 17 at 5:06 am
MLS# 2487921
Listing URL
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Chalon Mansion is a renovated quadplex with a total of four separate units. The primary unit offers 5 bedrooms and 3.5 baths, supported by three additional apartments, each with 1 bedroom and 1 bath. The interior includes an open floor plan, formal living and separate dining rooms, and multiple fireplaces throughout, including in the kitchen and bedrooms. The kitchen is described as an extra-large chef’s dream with custom cabinets, marble counters, and a large center island, along with a separate butler’s pantry/wet bar area.
The property is located in Historic Treme, with public remarks indicating it is only blocks from the French Quarter and within walking distance to neighborhood restaurants, bars and pubs, coffee houses, and tours.
Externally, the home is fully gated with off-street parking behind an automatic driveway gate for 10+ vehicles. The property also features balconies and a large, deep lot with room for hosting events or adding amenities such as a pool, per the listing remarks.
The property is located in Historic Treme, with public remarks indicating it is only blocks from the French Quarter and within walking distance to neighborhood restaurants, bars and pubs, coffee houses, and tours.
Externally, the home is fully gated with off-street parking behind an automatic driveway gate for 10+ vehicles. The property also features balconies and a large, deep lot with room for hosting events or adding amenities such as a pool, per the listing remarks.
Key Highlights
- Historic home built in 1855 in the Treme neighborhood, blocks from the French Quarter.
- Fully gated property with off‑street parking for 10+ vehicles behind an automatic driveway gate.
- Total of 4 separate units: primary unit plus three 1‑bedroom/1‑bath apartments.
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 | $137.5k | $19.80 |
| − Vacancy | −$11.9k | −$1.71 |
| EGI | $125.6k | $18.09 |
| − OpEx | −$37.7k | −$5.43 |
| NOI | $87.9k | $12.66 |
6,945 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $87,941 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,832 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$1.77M
$1.54M – $2.06M
NOI $123,563 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Treme Mansion
Bed & Breakfast
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Gated quadplex featuring four separate units, fireplaces throughout, and off-street parking for 10+ vehicles.
Where is this quadplex located?
The property is located at 1608 Governor Nicholls Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Historic home built in 1855 in the Treme neighborhood, blocks from the French Quarter.; Fully gated property with off‑street parking for 10+ vehicles behind an automatic driveway gate.; Total of 4 separate units: primary unit plus three 1‑bedroom/1‑bath apartments.
