Historic Duplex Income
1911-15 Octavia Street New Orleans, LA 70115
1911-15 Octavia Street, New Orleans, LA, 70115
$1,200,000
For Sale
$1,200,000
Historic duplex with restored interior details, two units, detached garage, and basement laundry area.
Property Size5,028 SF
Price / SF$238.66
Days on Market18
Property Features for 1911-15 Octavia Street
General Information
- Standard status
- Active
- Size
- 5,028 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1912
Listing agency
XLV Realty LLC
(504) 952-2976
Listed by
Caitlin Burnetz · License #995716860
(504) 952-2976
Source
Compass
Added: Jul 6 Updated: Jul 21 at 11:42AM Checked: Jul 22 at 7:27AM
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 XLV Realty LLC
Investment Insights
Based on property information with market context.
A historic income-producing duplex offering classic architectural character and distinctive original interior details. The property is currently configured as two units, with soaring ceilings, restored hardwood floors on the main level, original pocket doors, transom windows, fireplace mantels, and tall windows that bring in natural light. The first-floor unit includes formal living and dining rooms, an updated kitchen with a breakfast area, three bedrooms, and two full bathrooms, along with a spacious storage room off the primary bedroom. The upper unit spans the second and third floors and features a renovated kitchen, formal dining room, and a sunroom with balcony access, plus three bedrooms, two full bathrooms, a bonus room, and expansive converted attic space. Recent improvements include updated electrical wiring, replaced plumbing extending to the street, and reconstruction of the north exterior wall with Hardie siding. Several areas remain ready for restoration and enhancement.
The property includes a detached garage and a basement laundry area.
The property includes a detached garage and a basement laundry area.
Key Highlights
- Historic 3‑story Audubon‑area duplex built in 1912 with approx. 5,028 sq ft total
- 2‑unit setup: first‑floor unit approx. 1,985 sq ft with 3 bedrooms, 2 full baths, updated kitchen, and storage room off primary bedroom
- Upper unit spans 2nd/3rd floors approx. 3,043 sq ft with 3 bedrooms, 2 full baths, renovated kitchen, sunroom with balcony access, bonus room, and converted attic space
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 | $67.6k | $13.44 |
| − Vacancy | −$5.8k | −$1.16 |
| EGI | $61.7k | $12.28 |
| − OpEx | −$18.5k | −$3.68 |
| NOI | $43.2k | $8.60 |
5,028 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$617.4K
$540.2K – $720.3K
NOI $43,216 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$547.3K
$478.9K – $638.5K
NOI $38,310 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,857 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Historic duplex with restored interior details, two units, detached garage, and basement laundry area.
Where is this duplex located?
The property is located at 1911-15 Octavia Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Historic 3‑story Audubon‑area duplex built in 1912 with approx. 5,028 sq ft total; 2‑unit setup: first‑floor unit approx. 1,985 sq ft with 3 bedrooms, 2 full baths, updated kitchen, and storage room off primary bedroom; Upper unit spans 2nd/3rd floors approx. 3,043 sq ft with 3 bedrooms, 2 full baths, renovated kitchen, sunroom with balcony access, bonus room, and converted attic space
