5-Unit Greek Revival Apartment
For Sale
$750,000
Pending
2501 DAUPHINE Street, New Orleans, LA 70117
Commercial Sale, New Orleans, LA
Property Size3,686 SF
Lot Size0.08 Acres
Days on Market242
Property Features for 2501 DAUPHINE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HMR-3
Parking features
Off Street
Lot features
Corner Lot
Standard status
Pending
APN
38W101701
Size
3,686 SF
Lot size
0.08 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Description
SQ 256 LOT 1 DAUPHINE AND ST ROCH 29X118 SGLE 3/STORY 12/RM S/R (5 APTS)
Legal Description
SQ 256 LOT 1 DAUPHINE AND ST ROCH 29X118 SGLE 3/STORY 12/RM S/R (5 APTS)
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Amenities
balconies
tall ceilings
exposed fireplaces
Building Details
Year built
1850
Floors in Building
3
Building materials
HardiPlank Type, Wood Siding
Listing Agency:
REVE, REALTORS
(504) 300-0700
Listed By:
Ryan S Wentworth · License #000071657
(504) 302-0300
Added: Feb 24
Changed: Oct 23
Last Checked: Oct 24 at 8:06AM
MLS# 2542543
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 1850 apartment property contains five individually metered units and retains Greek Revival detailing, including tall ceilings, original flooring and moulding, and exposed fireplaces. Front and rear balconies overlook the downtown skyline and river traffic. The corner parcel provides rear-yard access and off-street parking for multiple vehicles. Zoning is HMR-3.
Unit areas are 667 SF, plus a 130 SF loft area, 613 SF, 412 SF, 776 SF, and 577 SF. One apartment is owner-occupied, one is vacant, and three are leased. Public water and sewer service the property, and natural gas is available.
The property is in the Marigny, with restaurants, bars, music venues, and shops nearby. Crescent Park and the French Quarter are also within reach.
Unit areas are 667 SF, plus a 130 SF loft area, 613 SF, 412 SF, 776 SF, and 577 SF. One apartment is owner-occupied, one is vacant, and three are leased. Public water and sewer service the property, and natural gas is available.
The property is in the Marigny, with restaurants, bars, music venues, and shops nearby. Crescent Park and the French Quarter are also within reach.
Key Highlights
- Five individually metered apartments; one owner‑occupied, one vacant, and three leased
- Unit areas: 667 SF plus a 130 SF loft, 613 SF, 412 SF, 776 SF, and 577 SF
- 1850 Greek Revival property with original flooring, moulding, and exposed fireplaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,901
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$858,020
$858.0K
Cap Rate 7%
$612,871
$612.9K
Cap Rate 9%
$476,678
$476.7K
Market Conditions
NOI Build-Up for 3,686 SF
Gross rent
$85.8K $23.28/SF
− Vacancy
−$7.8K −$2.12/SF
EGI
$78.0K $21.16/SF
− OpEx
−$35.1K −$9.52/SF
NOI
$42.9K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$858,020
Cap Rate 7%
$612,871
Cap Rate 9%
$476,678
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 authorities.
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Lease Details
5
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,196
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five separately metered apartments include a mix of occupied, leased, and vacant units.
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: Five individually metered apartments; one owner‑occupied, one vacant, and three leased; Unit areas: 667 SF plus a 130 SF loft, 613 SF, 412 SF, 776 SF, and 577 SF; 1850 Greek Revival property with original flooring, moulding, and exposed fireplaces
