Multi-Unit Residential Income
2109-11 CHARTRES Street New Orleans, LA 70116
2109-11 CHARTRES Street, New Orleans, LA, 70116
$850,000
For Sale
$850,000
MULTI_FAMILY - New Orleans, LA
Property Size3,000 SF
Price / SF$283.33
Days on Market319
Property Features for 2109-11 CHARTRES Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Patio and Porch features
- Porch
- Exterior features
- Courtyard, Fence, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 2111 CHARTRES
- Size
- 3,000 SF
Taxes and HOA fees
- Tax Description
- SQ 153 LOT F 20 CHARTRES
Utilities
- Heating system
- Central, Ductless (Heating), Other (Heating)
- Cooling system
- Wall Unit(s), Central Air, Ductless
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 1
- Number of units
- 3
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Witry Collective, L.L.C.
(504) 291-2022
3640 Magazine St, New Orleans, LA
Listed by
Joshua Walther · License #000076446
(504) 453-2277
Added: Sep 2, 2025 Checked: Jul 17 at 3:06 am
MLS# 2519622
Listing URL
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 for-sale multi-unit residential income property includes two updated 1-bedroom, 1-bath units and a spacious 2-bedroom, 1-bath owner’s residence located at the rear. The home features historic New Orleans architectural details such as fireplace mantels, hardwood floors, soaring ceilings with transoms, and original pocket doors. Recent updates are noted for the foundation, electrical, and plumbing systems. The property is currently operated as a short-term rental and is offered fully furnished.
An additional value-add is described as a 450-square-foot electrified detached brick workshop that remains undeveloped. The listing notes the property has an active B&B license and is versatile for multiple use scenarios.
The detached workshop provides supplemental enclosed space for potential studio, home office, or storage uses, while the three-residence layout supports flexible occupancy based on the operator’s needs.
An additional value-add is described as a 450-square-foot electrified detached brick workshop that remains undeveloped. The listing notes the property has an active B&B license and is versatile for multiple use scenarios.
The detached workshop provides supplemental enclosed space for potential studio, home office, or storage uses, while the three-residence layout supports flexible occupancy based on the operator’s needs.
Key Highlights
- HMC‑1 zoned property in the Marigny Triangle steps from Frenchmen Street and minutes to the French Quarter
- Two updated 1‑bed/1‑bath units plus a spacious 2‑bed/1‑bath owner’s residence at the rear
- Currently used as an STR with an active B&B license; offered fully furnished
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 | $59.4k | $19.80 |
| − Vacancy | −$5.1k | −$1.71 |
| EGI | $54.3k | $18.09 |
| − OpEx | −$16.3k | −$5.43 |
| NOI | $38.0k | $12.66 |
3,000 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$542.7K
$474.8K – $633.1K
NOI $37,987 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$498.8K
$436.5K – $582.0K
NOI $34,917 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$762.5K
$667.2K – $889.6K
NOI $53,375 @ 7.0% cap · market cap 6.28%
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 - Turnkey triplex-style income property with updated units and an undeveloped electrified detached workshop.
Where is this triplex located?
The property is located at 2109-11 CHARTRES Street New Orleans, LA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: HMC‑1 zoned property in the Marigny Triangle steps from Frenchmen Street and minutes to the French Quarter; Two updated 1‑bed/1‑bath units plus a spacious 2‑bed/1‑bath owner’s residence at the rear; Currently used as an STR with an active B&B license; offered fully furnished
