Fourplex with Central
New
For Sale
$575,000
2321/23 CHARTRES Street, New Orleans, LA 70117
Multi-Family, Traditional, New Orleans, LA
Property Size2,348 SF
Price / SF$244.89
Days on Market2
Property Features for 2321/23 CHARTRES Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Regular
Standard status
Active
APN
2321-CHARTRESST
Size
2,348 SF
Taxes and HOA fees
Tax Description
Sq 151 Lot R 1
Legal Description
Sq 151 Lot R 1
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
1
Number of units
4
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Kimberly Schexnayder · License #995718687
(504) 717-3893
Added: Oct 6
Last Checked: Oct 7 at 2:06PM
MLS# 2580434
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 four-unit residential income property contains four 1-bedroom, 1-bath apartments across 2,348 square feet. Built in 1920, the building has central heating and central air conditioning, a shingle roof, and public water service. The property is fully occupied.
The building is at 2321/23 Chartres Street in New Orleans, three blocks from the French Quarter. Frenchmen Street, the French Market, restaurants, cafes, live music, and the Mississippi riverfront are also within walking distance.
The building is at 2321/23 Chartres Street in New Orleans, three blocks from the French Quarter. Frenchmen Street, the French Market, restaurants, cafes, live music, and the Mississippi riverfront are also within walking distance.
Key Highlights
- Four 1‑bedroom/1‑bath units
- Fully occupied
- 2,348 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,732
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,640
$594.6K
Cap Rate 7%
$424,743
$424.7K
Cap Rate 9%
$330,356
$330.4K
Market Conditions
NOI Build-Up for 2,348 SF
Gross rent
$46.5K $19.80/SF
− Vacancy
−$4.0K −$1.71/SF
EGI
$42.5K $18.09/SF
− OpEx
−$12.7K −$5.43/SF
NOI
$29.7K $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%
$594,640
Cap Rate 7%
$424,743
Cap Rate 9%
$330,356
Alternative Uses
Best Use
Multifamily LT 5
$424.7K
$371.7K – $495.5K
NOI $29,732 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$390.4K
$341.6K – $455.5K
NOI $27,328 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$596.8K
$522.2K – $696.3K
NOI $41,775 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,874
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom apartments are fully occupied, with central heating and air conditioning.
Where is this quadplex located?
The property is located at 2321/23 CHARTRES Street New Orleans, LA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four 1‑bedroom/1‑bath units; Fully occupied; 2,348 square feet
