4-Unit Multifamily
2310 Barracks Street, New Orleans, LA 70119
For Sale
New
$560,000
Three apartments are in the main building, while a detached cottage completes the four-unit configuration.
Property Size2,330 SF
Price / SF$240.34
Days on Market4
Property Features for 2310 Barracks Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Building Size
Year Built
Buildings
Listing Agency:
JW Property Services, LLC
Listed By:
Lindsay M Santana
(504) 648-4073
Source:
Ewbank.kw
Added: Nov 12
Changed: Nov 14
Last Checked: Nov 14 at 2:22PM
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 JW Property Services, LLC
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Investment Insights
Based on property information with market context.
Built in 1896, this four-unit property has three apartments in the main building and a detached cottage at the rear. The apartment mix includes two shotgun-style units and one upstairs apartment. Across the property are 6 bedrooms, 4 bathrooms, and approximately 2,330 square feet of living space. Both buildings received gold-certified roofs in 2024, along with fresh paint and cosmetic improvements. The property is in Flood Zone X.
The address is one block from Esplanade Avenue in New Orleans. The three main-building apartments and separate cottage provide distinct residential spaces within a single multifamily property.
The address is one block from Esplanade Avenue in New Orleans. The three main-building apartments and separate cottage provide distinct residential spaces within a single multifamily property.
Key Highlights
- Four residential units: three apartments and a detached rear cottage
- Approximately 2,330 square feet with 6 bedrooms and 4 bathrooms
- Main building includes two shotgun‑style apartments and one upstairs apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,504
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$590,080
$590.1K
Cap Rate 7%
$421,486
$421.5K
Cap Rate 9%
$327,822
$327.8K
Market Conditions
NOI Build-Up for 2,330 SF
Gross rent
$46.1K $19.80/SF
− Vacancy
−$4.0K −$1.71/SF
EGI
$42.1K $18.09/SF
− OpEx
−$12.6K −$5.43/SF
NOI
$29.5K $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%
$590,080
Cap Rate 7%
$421,486
Cap Rate 9%
$327,822
Alternative Uses
Best Use
Multifamily LT 5
$421.5K
$368.8K – $491.7K
NOI $29,504 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$387.4K
$339.0K – $452.0K
NOI $27,118 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$609.7K
$533.5K – $711.3K
NOI $42,678 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,529
Businesses Nearby
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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
$359,300
Median Home Value
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Market
Average Price Trend$/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 - Three apartments are in the main building, while a detached cottage completes the four-unit configuration.
Where is this quadplex located?
The property is located at 2310 Barracks Street New Orleans, LA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Four residential units: three apartments and a detached rear cottage; Approximately 2,330 square feet with 6 bedrooms and 4 bathrooms; Main building includes two shotgun‑style apartments and one upstairs apartment
