Tenant-Occupied Triplex with
For Sale
$514,900
2226 Barracks St, New Orleans, LA 70119
Three-unit residential income property with updated interiors and off-street parking.
Property Size2,832 SF
Price / SF$181.81
Days on Market69
Property Features for 2226 Barracks St
General Information
Standard status
Active
Size
2,832 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$47,064
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
Talbot Realty Group
Listed By:
Christopher Talbot · License #000075986
(504) 319-1452
Source:
Dominionplace
Added: Aug 8
Changed: Oct 15
Last Checked: Oct 7 at 1:23PM
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 Talbot Realty Group
Investment Insights
Based on property information with market context.
This tenant-occupied triplex contains 2,832 square feet and is configured as three residential units. The property includes off-street parking, updated interiors, and architectural details associated with its 1920 construction. Its existing multifamily layout supports continued residential rental use.
The property is located at 2226 Barracks St in New Orleans, just off Esplanade Avenue. The location provides access to the French Quarter, Fair Grounds, CBD, and other named New Orleans destinations. The combination of three units, existing occupancy, parking, and a central city setting creates a straightforward multifamily property profile.
The property is located at 2226 Barracks St in New Orleans, just off Esplanade Avenue. The location provides access to the French Quarter, Fair Grounds, CBD, and other named New Orleans destinations. The combination of three units, existing occupancy, parking, and a central city setting creates a straightforward multifamily property profile.
Key Highlights
- Three‑unit multifamily configuration
- 2,832 SF property
- Tenant‑occupied residential property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,860
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$717,200
$717.2K
Cap Rate 7%
$512,286
$512.3K
Cap Rate 9%
$398,444
$398.4K
Market Conditions
NOI Build-Up for 2,832 SF
Gross rent
$56.1K $19.80/SF
− Vacancy
−$4.8K −$1.71/SF
EGI
$51.2K $18.09/SF
− OpEx
−$15.4K −$5.43/SF
NOI
$35.9K $12.66/SF
Area
ZIP 70119
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%
$717,200
Cap Rate 7%
$512,286
Cap Rate 9%
$398,444
Alternative Uses
Best Use
Multifamily LT 5
$512.3K
$448.3K – $597.7K
NOI $35,860 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$470.9K
$412.0K – $549.4K
NOI $32,961 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$741.0K
$648.4K – $864.6K
NOI $51,873 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,529
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property with updated interiors and off-street parking.
Where is this triplex located?
The property is located at 2226 Barracks St New Orleans, LA.
What is the asking price?
The asking price for this property is $514,900.
What are key features of this property?
This property features: Three‑unit multifamily configuration; 2,832 SF property; Tenant‑occupied residential property
