Historic 3-Unit
2704 Burgundy Street, New Orleans, LA 70117
For Sale
$580,000
Multifamily, New Orleans, LA
Property Size1,980 SF
Lot Size0.07 Acres
Price / SF$292.93
Days on Market68
Property Features for 2704 Burgundy Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
hardwood floors
tall ceilings
traditional shutters
front porch
Building Details
Year built
Number of units
Building materials
Listing Agency:
Keller Williams Realty NO
(504) 862-0100
Listed By:
Nayelly S Barrios · License LA #995710617
(956) 458-5449
Added: Sep 8
Changed: Nov 13
Last Checked: Nov 14 at 3:06AM
MLS# 2576266
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.
Built in 1873, this 1,980-square-foot triplex contains two one-bedroom, one-bath apartments and one two-bedroom, one-bath apartment. Interior details include hardwood floors, high ceilings, traditional shutters, and a front porch. The 0.07-acre property has wood siding, off-street parking, public water and sewer, and natural gas available.
Recent work includes new water heaters and refrigerators in the front and middle units, plus new ranges in the front and rear apartments. Mini-split systems were installed in the front and middle units. Other repairs include mortar-joint remediation and releveling, plumbing work, replacement kitchen counters and shelving, balcony support remediation, copper pipe reinforcement, and renewed kitchen and living-room ceilings. The home has also been repainted throughout.
The property is in New Orleans’ Marigny neighborhood, with Crescent Park and the Mississippi River nearby.
Recent work includes new water heaters and refrigerators in the front and middle units, plus new ranges in the front and rear apartments. Mini-split systems were installed in the front and middle units. Other repairs include mortar-joint remediation and releveling, plumbing work, replacement kitchen counters and shelving, balcony support remediation, copper pipe reinforcement, and renewed kitchen and living-room ceilings. The home has also been repainted throughout.
The property is in New Orleans’ Marigny neighborhood, with Crescent Park and the Mississippi River nearby.
Key Highlights
- Three‑unit layout: two 1‑bedroom/1‑bath apartments and one 2‑bedroom/1‑bath apartment
- 1,980 square feet on a 0.07‑acre lot; built in 1873
- Mini‑split systems in the front and middle apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,072
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,440
$501.4K
Cap Rate 7%
$358,171
$358.2K
Cap Rate 9%
$278,578
$278.6K
Market Conditions
NOI Build-Up for 1,980 SF
Gross rent
$39.2K $19.80/SF
− Vacancy
−$3.4K −$1.71/SF
EGI
$35.8K $18.09/SF
− OpEx
−$10.7K −$5.43/SF
NOI
$25.1K $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%
$501,440
Cap Rate 7%
$358,171
Cap Rate 9%
$278,578
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,072 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$329.2K
$288.1K – $384.1K
NOI $23,045 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$503.3K
$440.4K – $587.1K
NOI $35,228 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,196
Businesses Nearby
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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
$247,600
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in New Orleans, LA
Properties on Market for Triplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments combine period details with updated appliances and ductless systems in two units.
Where is this triplex located?
The property is located at 2704 Burgundy Street New Orleans, LA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Three‑unit layout: two 1‑bedroom/1‑bath apartments and one 2‑bedroom/1‑bath apartment; 1,980 square feet on a 0.07‑acre lot; built in 1873; Mini‑split systems in the front and middle apartments
