Fourplex with Partially Renovated
3001-03 Desoto Street New Orleans, LA 70119
For Sale
$700,000
Pending
Four-unit residential income property with two renovated baths and a roof that is about two years old.
Property Size4,515 SF
Days on Market270
Property Features for 3001-03 Desoto Street
General Information
- Standard status
- Pending
- Size
- 4,515 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1895
Listing Agency:
Berkshire Hathaway HomeServices Preferred, REALTOR
(504) 460-6340
Listed By:
Ricky Lemann · License #000027829
(504) 460-6340
Source:
Compass
Added: Oct 27, 2025
Changed: Jul 21
Last Checked: Jul 23 at 10:42AM
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 Berkshire Hathaway HomeServices Preferred, REALTOR
Investment Insights
Based on property information with market context.
This fourplex offers a residential income configuration with four units, and features partial renovations including two of the four baths. The public remarks also note that the roof is approximately two years old.
The property is located at 3001-03 Desoto Street in New Orleans, and is described as being on a quiet street within a walkable area. The remarks further cite proximity to local dining and events, including Canseco’s, Terranova’s, Jazz Fest, and City Park.
The seller’s remarks characterize the building as ready for renovation, and they mention potential Historic Tax Credit opportunities. The remarks also suggest that improved rents could command a premium based on demand in the area, though prospective buyers should verify eligibility and projections during due diligence.
The property is located at 3001-03 Desoto Street in New Orleans, and is described as being on a quiet street within a walkable area. The remarks further cite proximity to local dining and events, including Canseco’s, Terranova’s, Jazz Fest, and City Park.
The seller’s remarks characterize the building as ready for renovation, and they mention potential Historic Tax Credit opportunities. The remarks also suggest that improved rents could command a premium based on demand in the area, though prospective buyers should verify eligibility and projections during due diligence.
Key Highlights
- 2‑story 4‑plex residential income property built in 1895
- 10 bedrooms and 4 full bathrooms total
- Central heating and central air
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 | $89.4k | $19.80 |
| − Vacancy | −$7.7k | −$1.71 |
| EGI | $81.7k | $18.09 |
| − OpEx | −$24.5k | −$5.43 |
| NOI | $57.2k | $12.66 |
4,515 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$816.7K
$714.6K – $952.9K
NOI $57,171 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$750.7K
$656.9K – $875.8K
NOI $52,549 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,700 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four-unit residential income property with two renovated baths and a roof that is about two years old.
Where is this quadplex located?
The property is located at 3001-03 Desoto Street New Orleans, LA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2‑story 4‑plex residential income property built in 1895; 10 bedrooms and 4 full bathrooms total; Central heating and central air
