Four-Unit Apartment
For Sale
$575,000
2321/23 CHARTRES Street, New Orleans, LA 70117
Multifamily, New Orleans, LA
Property Size2,348 SF
Price / SF$244.89
Days on Market18
Property Features for 2321/23 CHARTRES Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 2
Standard status
Active
APN
2321-CHARTRESST
Size
2,348 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
Sq 151 Lot R 1
Legal Description
Sq 151 Lot R 1
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1920
Number of units
4
Building materials
HardiPlank Type
Architectural style
Other
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Kimberly Ann Schexnayder · License #995718687
(504) 717-3893
Added: Oct 6
Changed: Oct 23
Last Checked: Oct 23 at 3:06PM
MLS# 2580434
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,348-square-foot apartment property contains four one-bedroom, one-bathroom residences and was built in 1920. The building has HardiPlank Type exterior materials, central heating and central air conditioning, with natural gas available. Public water and sewer serve the property.
At 2321/23 Chartres Street in New Orleans, the property is three blocks from the French Quarter. Frenchmen Street, the French Market, restaurants, cafes, live music, and the Mississippi riverfront are also identified as walkable destinations. DSCR financing is available, and the seller is open to discussing a mortgage assumption with a qualified buyer, subject to lender approval and existing loan terms.
At 2321/23 Chartres Street in New Orleans, the property is three blocks from the French Quarter. Frenchmen Street, the French Market, restaurants, cafes, live music, and the Mississippi riverfront are also identified as walkable destinations. DSCR financing is available, and the seller is open to discussing a mortgage assumption with a qualified buyer, subject to lender approval and existing loan terms.
Key Highlights
- Four one‑bedroom, one‑bathroom residences; all are occupied
- 2,348 square feet in a building constructed in 1920
- Three blocks from the French Quarter
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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All residences are occupied, with each offering one bedroom and one bathroom.
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 one‑bedroom, one‑bathroom residences; all are occupied; 2,348 square feet in a building constructed in 1920; Three blocks from the French Quarter
