Renovated 4-Unit
2001 Saint Philip St, New Orleans, LA 70116
For Sale
$599,000
A corner-lot property with in-unit laundry and one driveway parking space.
Property Size3,778 SF
Price / SF$158.55
Days on Market103
Property Features for 2001 Saint Philip St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Amenities
in-unit laundry
patio
Building Details
Year Renovated
Listing Agency:
REMAX N.O. Properties
(504) 866-7733
Listed By:
Rachael B. Kansas · License #995681754
(504) 220-9941
Source:
Exprealty
Added: Jul 30
Changed: Nov 8
Last Checked: Nov 8 at 4:28PM
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 REMAX N.O. Properties
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Investment Insights
Based on property information with market context.
This 3,778-square-foot quadplex is fully occupied and includes laundry in each unit. Renovations completed in 2021 included replacement of all four air-conditioning systems and water heaters, updates to six bathrooms, and additional work to the structure and roof. The largest upstairs unit features high ceilings, original hardwood floors, and a large balcony. Outdoor features include a rear patio with a lemon tree and one driveway parking space.
The property is on a corner lot in New Orleans, a few blocks on foot from the Lafitte Greenway, Dooky Chase, Lil Dizzys, coffee shops, and restaurants.
The property is on a corner lot in New Orleans, a few blocks on foot from the Lafitte Greenway, Dooky Chase, Lil Dizzys, coffee shops, and restaurants.
Key Highlights
- Four‑unit quadplex totaling 3,778 square feet; fully occupied
- 2021 renovations included replacement of all four AC systems and water heaters, six bathroom updates, and work to the structure and roof
- Laundry in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,839
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,780
$956.8K
Cap Rate 7%
$683,414
$683.4K
Cap Rate 9%
$531,544
$531.5K
Market Conditions
NOI Build-Up for 3,778 SF
Gross rent
$74.8K $19.80/SF
− Vacancy
−$6.5K −$1.71/SF
EGI
$68.3K $18.09/SF
− OpEx
−$20.5K −$5.43/SF
NOI
$47.8K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$956,780
Cap Rate 7%
$683,414
Cap Rate 9%
$531,544
Alternative Uses
Best Use
Multifamily LT 5
$683.4K
$598.0K – $797.3K
NOI $47,839 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$628.2K
$549.7K – $732.9K
NOI $43,972 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$960.2K
$840.2K – $1.12M
NOI $67,217 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 70116, LA
10,676
Population
9,620
Households
1.1
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
8,212
Density / Sq Mi
$45,580
Median Household Income
$34,849
Median Earnings
$1,190
Median Rent
$385,100
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in New Orleans, LA
Properties on Market for Quadplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - A corner-lot property with in-unit laundry and one driveway parking space.
Where is this quadplex located?
The property is located at 2001 Saint Philip St New Orleans, LA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 3,778 square feet; fully occupied; 2021 renovations included replacement of all four AC systems and water heaters, six bathroom updates, and work to the structure and roof; Laundry in every unit
