New Orleans Tri-Plex Near
For Sale
$350,000
1617 N BROAD Street, New Orleans, LA 70119
MULTI_FAMILY - New Orleans, LA
Property Size2,612 SF
Lot Size0.09 Acres
Price / SF$133
Days on Market144
Property Features for 1617 N BROAD Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Regular
Subdivision
Fairgrounds
Standard status
Active
APN
37W214020
Size
2,612 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Description
SQ 1516 LOT 6 N BROAD 31 X 120 C/BACK 17/RM AND BASE A/R SEE E REC AFFIDAVIT
Legal Description
SQ 1516 LOT 6 N BROAD 31 X 120 C/BACK 17/RM AND BASE A/R SEE E REC AFFIDAVIT
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Well
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
Crescent City Living, LLC
(504) 327-5303
Listed By:
Leslie Heindel · License #995688679
(504) 327-5303
Added: Mar 9
Changed: May 14
Last Checked: Jul 30 at 9:06PM
MLS# 2546837
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.
Investment Insights
Based on property information with market context.
This tri-plex, full of New Orleans charm and character, is located in the Fairgrounds area, close to Jazz Fest. The property includes off-street parking. It is located in an X flood zone. Over 700 square feet of storage space is available, suitable for storing kayaks or creating an office space. The roof was installed in 2019. All units include an in-unit washer and dryer. The exterior was repainted in the last couple of years. The property size is 2,612 square feet and the lot size is 0.0854 acres.
Key Highlights
- Tri‑plex allows owner occupancy with rental income potential
- Located in the Fairgrounds area, close to Jazz Fest
- Off‑street parking available
Financial Insights For Apartment 5plus
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 | $60.8k | $23.28 |
| − Vacancy | −$5.5k | −$2.12 |
| EGI | $55.3k | $21.16 |
| − OpEx | −$24.9k | −$9.52 |
| NOI | $30.4k | $11.64 |
2,612 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$472.5K
$413.4K – $551.2K
NOI $33,074 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$434.3K
$380.0K – $506.7K
NOI $30,401 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$683.5K
$598.0K – $797.4K
NOI $47,843 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Charming tri-plex near Jazz Fest with off-street parking.
Where is this triplex located?
The property is located at 1617 N BROAD Street New Orleans, LA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Tri‑plex allows owner occupancy with rental income potential; Located in the Fairgrounds area, close to Jazz Fest; Off‑street parking available
