New Orleans Multifamily
3212 MILAN Street New Orleans, LA 70125
3212 MILAN Street, New Orleans, LA, 70125
$399,500
For Sale
$399,500
MULTI_FAMILY - New Orleans, LA
Property Size1,764 SF
Lot Size0.17 Acres
Price / SF$226.47
Days on Market475
Property Features for 3212 MILAN Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Off Street, Driveway
- Patio and Porch features
- Porch
- Exterior features
- Driveway Permeable Surface, Fence, Porch
- Fencing
- Fenced
- Standard status
- Active
- APN
- 614344507
- Size
- 1,764 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- SQ 721 LOTS 9 10 67X110
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1976
- Floors in Building
- 1
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Cottage
Listing Agency
Galiano Realty
(504) 256-6311
3414 B Canal Street, New Orleans, LA
Listed by
Herbert Kaufman
(504) 256-6311
Added: Mar 30, 2025 Checked: Jul 17 at 5:06 am
MLS# 2494139
Listing URL
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property in New Orleans, Louisiana, presents an opportunity with a main house featuring 2 bedrooms and 2 bathrooms, complemented by a guest house that includes 2 bedrooms and 1 bathroom. Situated on an oversized double lot of 0.1692 acres, the property offers a total of 1764 square feet of living space. The main house is enhanced with crown molding, granite countertops in the kitchen, and high ceilings. The property also features a den. The roof is approximately 3 years old and includes new A/C duct work. The guest house has the potential to generate income, which could assist with mortgage payments. The property includes a large front and back yard, along with gated off-street parking.
Key Highlights
- Oversized double lot with main house plus a separate 2BR/1BA guest house
- Main house offers 2 bedrooms and 2 bathrooms with high ceilings, crown molding, and a den
- Kitchen features granite countertops
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 | $34.9k | $19.80 |
| − Vacancy | −$3.0k | −$1.71 |
| EGI | $31.9k | $18.09 |
| − OpEx | −$9.6k | −$5.43 |
| NOI | $22.3k | $12.66 |
1,764 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$319.1K
$279.2K – $372.3K
NOI $22,337 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$293.3K
$256.6K – $342.2K
NOI $20,531 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$448.4K
$392.3K – $523.1K
NOI $31,385 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Multifamily property with main house and guest house.
Where is this duplex located?
The property is located at 3212 MILAN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Oversized double lot with main house plus a separate 2BR/1BA guest house; Main house offers 2 bedrooms and 2 bathrooms with high ceilings, crown molding, and a den; Kitchen features granite countertops
