Renovated Triplex with Long-Term
3445 MAGNOLIA Street New Orleans, LA 70115
3445 MAGNOLIA Street, New Orleans, LA, 70115
$649,000
For Sale
$649,000
MULTI_FAMILY - New Orleans, LA
Property Size3,100 SF
Price / SF$209.35
Days on Market45
Property Features for 3445 MAGNOLIA Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Exterior features
- Courtyard
- Standard status
- Active
- APN
- 3445-MAGNOLIAST
- Size
- 3,100 SF
Taxes and HOA fees
- Tax Description
- SQ 633 LOT 20
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1939
- Floors in Building
- 2
- Number of units
- 3
- Roof type
- Shingle
- Architectural style
- Other
Listing agency
Keller Williams Realty New Orleans
(504) 862-0100
Listed by
Chris Smith · License #000009641
(504) 862-0100
Added: Jun 8 Updated: Jun 11 at 10:02PM Checked: Jul 22 at 10:06AM
MLS# 2558470
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 fully renovated multi-unit property was updated in 2015 and is presented in turnkey, well-maintained condition. The layout includes a spacious owner’s unit on the ground floor with three bedrooms and high-end finishes. The upper level provides two additional rental units designed for comfort and efficiency, giving the property a straightforward three-unit configuration.
Located at 3445 Magnolia Street in New Orleans, the home is positioned in Central City, offering an owner-occupant or investor setup within a dense residential market. The current income is supported by long-term tenants in place.
For buyers seeking a live-and-earn scenario, the arrangement allows an owner to occupy the ground-floor unit while maintaining rental income from the two upstairs units. For investors, the property’s renovated condition, three-unit structure, and current $2,800 per month total rental income with existing tenancy provide a practical foundation for underwriting and operations.
Located at 3445 Magnolia Street in New Orleans, the home is positioned in Central City, offering an owner-occupant or investor setup within a dense residential market. The current income is supported by long-term tenants in place.
For buyers seeking a live-and-earn scenario, the arrangement allows an owner to occupy the ground-floor unit while maintaining rental income from the two upstairs units. For investors, the property’s renovated condition, three-unit structure, and current $2,800 per month total rental income with existing tenancy provide a practical foundation for underwriting and operations.
Key Highlights
- Fully renovated multi‑unit property updated in 2015
- 3‑bedroom owner’s unit on the ground floor, plus two additional rental units on the upper level
- Total current rental income is $2,800 per month with long‑term tenants in place
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 | $41.7k | $13.44 |
| − Vacancy | −$3.6k | −$1.16 |
| EGI | $38.1k | $12.28 |
| − OpEx | −$11.4k | −$3.68 |
| NOI | $26.6k | $8.60 |
3,100 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$380.6K
$333.1K – $444.1K
NOI $26,645 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$337.4K
$295.3K – $393.7K
NOI $23,620 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$817.9K
$715.6K – $954.2K
NOI $57,251 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Fully renovated triplex with a ground-floor owner unit and two upstairs rentals, currently generating $2,800 monthly.
Where is this triplex located?
The property is located at 3445 MAGNOLIA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Fully renovated multi‑unit property updated in 2015; 3‑bedroom owner’s unit on the ground floor, plus two additional rental units on the upper level; Total current rental income is $2,800 per month with long‑term tenants in place
