Lower Garden District
1920-22 Constance Street New Orleans, LA 70130
1920-22 Constance Street, New Orleans, LA, 70130
$650,000
For Sale
$650,000
Historic triplex near Magazine Street with modern updates.
Property Size2,646 SF
Price / SF$245.65
Days on Market127
Property Features for 1920-22 Constance Street
General Information
- Standard status
- Active
- Size
- 2,646 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1840
Listing Agency
Coldwell Banker TEC MAGAZINE
(504) 704-9192
Listed by
Sarah Aucoin · License #995697526
(504) 704-9192
Source
Compass
Added: Mar 13 Checked: Jul 16 at 6:37 am
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 Coldwell Banker TEC MAGAZINE
Investment Insights
Based on property information with market context.
This Lower Garden District triplex offers a blend of historic charm and modern comfort, located steps from Magazine Street. Each residence has been updated and features spacious layouts, high ceilings, and natural light. The kitchens are equipped with modern appliances, and the interiors combine original architectural details with contemporary finishes. The property includes private entrances, a landscaped shared courtyard with trees, and off-street parking. Situated in one of New Orleans' sought-after neighborhoods, it is located one block from boutique shopping, restaurants, bars, and Mardi Gras parade routes. The property size is 2646 square feet.
Key Highlights
- Prime Location: Steps from Magazine Street in the Lower Garden District, offering immediate access to shopping, restaurants, bars, and Mardi Gras parades.
- Updated Triplex: Each residence is thoughtfully updated with modern appliances and contemporary finishes.
- Historic Charm: Blend of original architectural details and modern comfort in a historic building (built in 1840).
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 | $52.4k | $19.80 |
| − Vacancy | −$4.5k | −$1.71 |
| EGI | $47.9k | $18.09 |
| − OpEx | −$14.4k | −$5.43 |
| NOI | $33.5k | $12.66 |
2,646 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$478.6K
$418.8K – $558.4K
NOI $33,505 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$439.9K
$385.0K – $513.3K
NOI $30,796 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$672.5K
$588.5K – $784.6K
NOI $47,077 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Historic triplex near Magazine Street with modern updates.
Where is this triplex located?
The property is located at 1920-22 Constance Street New Orleans, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime Location: Steps from Magazine Street in the Lower Garden District, offering immediate access to shopping, restaurants, bars, and Mardi Gras parades.; Updated Triplex: Each residence is thoughtfully updated with modern appliances and contemporary finishes.; Historic Charm: Blend of original architectural details and modern comfort in a historic building (built in 1840).
