Renovated Fourplex in Freret
2714 Milan Street New Orleans, LA 70115
2714 Milan Street, New Orleans, LA, 70115
$764,000
For Sale
$764,000
Renovated fourplex near Ochsner Baptist with strong rental income.
Property Size5,749 SF
Price / SF$132.89
Days on Market61
Property Features for 2714 Milan Street
General Information
- Standard status
- Active
- Size
- 5,749 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1907
Listing Agency
United Real Estate Partners LLC
(504) 296-8286
Listed by
Luke Garris · License #995695427
(504) 296-8286
Source
Compass
Added: May 17 Checked: Jul 16 at 8:01 am
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 United Real Estate Partners LLC
Investment Insights
Based on property information with market context.
This renovated fourplex is located in the Freret Corridor of New Orleans, near Ochsner Baptist. Constructed in 1907, the property retains its historic New Orleans character while incorporating modern updates. The building contains four units, totaling approximately 5,749 square feet. The property generates a rental income of nearly $7,000 per month. All units are tenant occupied, with two in month-to-month agreements. The property features spacious layouts, high ceilings, and curb appeal. The location provides access to hospitals, universities, dining, and entertainment. The property is located in an X flood zone. This property may be suitable for investors seeking stabilized multifamily income in a high-demand area, owner-occupants looking to offset living expenses, or those interested in mid-term or traveling medical professional rental strategies.
Key Highlights
- Rare renovated fourplex in the highly desirable Freret Corridor, near Ochsner Baptist.
- Strong in‑place rental income of nearly $7,000/month with potential for increased rents.
- Fully renovated with historic charm and modern functionality.
Local Financial Insights For Multifamily LT 5
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 | $77.3k | $13.44 |
| − Vacancy | −$6.7k | −$1.16 |
| EGI | $70.6k | $12.28 |
| − OpEx | −$21.2k | −$3.68 |
| NOI | $49.4k | $8.60 |
5,749 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$705.9K
$617.7K – $823.6K
NOI $49,414 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$625.8K
$547.5K – $730.1K
NOI $43,803 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,173 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Renovated fourplex near Ochsner Baptist with strong rental income.
Where is this quadplex located?
The property is located at 2714 Milan Street New Orleans, LA.
What is the asking price?
The asking price for this property is $764,000.
What are key features of this property?
This property features: Rare renovated fourplex in the highly desirable Freret Corridor, near Ochsner Baptist.; Strong in‑place rental income of nearly $7,000/month with potential for increased rents.; Fully renovated with historic charm and modern functionality.
