Greek Revival Double Gallery Apartment
2501 Dauphine Street New Orleans, LA 70117
2501 Dauphine Street, New Orleans, LA, 70117
$750,000
For Sale
$750,000
1850s corner-lot double gallery property with multiple balconies and mixed occupancy: one unit owner-occupied, one vacant, three leased.
Property Size3,686 SF
Price / SF$203.47
Days on Market166
Property Features for 2501 Dauphine Street
General Information
- Standard status
- Active
- Size
- 3,686 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Listing agency
REVE, REALTORS
(504) 302-0300
Listed by
Ryan Wentworth · License #000071657
(504) 302-0300
Source
Compass
Added: Feb 6 Updated: Jul 21 at 2:56PM Checked: Jul 22 at 10:07AM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This 1850s Greek Revival double gallery apartment building offers a corner-lot layout with large front and rear balconies, tall ceilings, and original interior details including floors and mouldings, plus exposed fireplaces. The property includes one owner-occupied unit, one vacant unit, and three units currently under lease.
Located at the intersection of Dauphine St and St. Roch Avenue in the Marigny neighborhood, the home is positioned for easy access to Crescent Park and is within a short stroll of the French Quarter, with numerous restaurants, bars, music venues, and shops minutes away.
The corner lot provides easy access to the rear yard and parking for multiple vehicles, with interior views that include the downtown skyline and river activity. Cash or commercial financing is necessary with the five-unit configuration, as it will not qualify for conventional or FHA/VA financing.
Located at the intersection of Dauphine St and St. Roch Avenue in the Marigny neighborhood, the home is positioned for easy access to Crescent Park and is within a short stroll of the French Quarter, with numerous restaurants, bars, music venues, and shops minutes away.
The corner lot provides easy access to the rear yard and parking for multiple vehicles, with interior views that include the downtown skyline and river activity. Cash or commercial financing is necessary with the five-unit configuration, as it will not qualify for conventional or FHA/VA financing.
Key Highlights
- 1850s Greek Revival double gallery home on a corner lot with balcony and porch features
- 5 bathrooms and 4 bedrooms; 3‑story exterior with tall ceilings and original floors and mouldings
- Multiple units with mixed occupancy: 1 owner‑occupied, 1 vacant, and 3 under lease (5‑unit configuration)
Local Financial Insights For Apartment 5plus
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 | $85.8k | $23.28 |
| − Vacancy | −$7.8k | −$2.12 |
| EGI | $78.0k | $21.16 |
| − OpEx | −$35.1k | −$9.52 |
| NOI | $42.9k | $11.64 |
3,686 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$612.9K
$536.3K – $715.0K
NOI $42,901 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.9K
$819.8K – $1.09M
NOI $65,580 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 1850s corner-lot double gallery property with multiple balconies and mixed occupancy: one unit owner-occupied, one vacant, three leased.
Where is this apartment building located?
The property is located at 2501 Dauphine Street New Orleans, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1850s Greek Revival double gallery home on a corner lot with balcony and porch features; 5 bathrooms and 4 bedrooms; 3‑story exterior with tall ceilings and original floors and mouldings; Multiple units with mixed occupancy: 1 owner‑occupied, 1 vacant, and 3 under lease (5‑unit configuration)
