Triplex with Two-Bay Garage and
For Sale
$699,999
3619 BURGUNDY Street, New Orleans, LA 70117
MULTI_FAMILY - New Orleans, LA
Property Size3,788 SF
Price / SF$184.79
Days on Market103
Property Features for 3619 BURGUNDY Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, Garage
Patio and Porch features
Patio, Porch
Exterior features
Fence, Outdoor Entertainment Area Beyond Your Average Patio, Porch
Fencing
Fenced
Lot features
Corner, Regular
Subdivision
Bywater
Standard status
Active
APN
39W201103
Size
3,788 SF
Taxes and HOA fees
Tax Description
SQ 288 LOT 1 A BURGUNDY & 2. INDEPENDENCE ST 98 X 40 2/ST WD/F T/PLEX 17 1/2/R A/R GA R 3619-21 BURGUNDY ST & 900 INDEPENDENCE ST
Legal Description
SQ 288 LOT 1 A BURGUNDY & 2. INDEPENDENCE ST 98 X 40 2/ST WD/F T/PLEX 17 1/2/R A/R GA R 3619-21 BURGUNDY ST & 900 INDEPENDENCE ST
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Roof type
Shingle
Listing Agency:
Crescent City Living, LLC
(504) 327-5303
Listed By:
Sarah Katko · License #995709880
(504) 327-5303
Added: May 12
Changed: Aug 3
Last Checked: Aug 22 at 8:06AM
MLS# 2557410
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 triplex at 3619 Burgundy Street in New Orleans is a three-unit property built in 1920 and totaling 3,788 square feet. All three units are accessed behind a gated landing, with two units downstairs and a spacious upstairs unit. The upstairs unit offers three bedrooms and 1.5 bathrooms and includes central heat and air, along with walkout access to a deck nearly 1,000 square feet above the garage.
The two downstairs units include a 1-bedroom, 1-bath layout and a 2-bedroom, 1-bath layout, and both provide private outdoor space. The property includes a large two-bay garage plus off-street parking, fenced perimeter elements, and covered exterior areas such as a porch and patio. Heating is listed as central, and cooling includes window unit(s) and central air. Water is provided by public service, and the roof is shingle.
A triplex configuration like this can fit buyers seeking a multi-unit setup with meaningful outdoor space and distinct unit layouts.
The two downstairs units include a 1-bedroom, 1-bath layout and a 2-bedroom, 1-bath layout, and both provide private outdoor space. The property includes a large two-bay garage plus off-street parking, fenced perimeter elements, and covered exterior areas such as a porch and patio. Heating is listed as central, and cooling includes window unit(s) and central air. Water is provided by public service, and the roof is shingle.
A triplex configuration like this can fit buyers seeking a multi-unit setup with meaningful outdoor space and distinct unit layouts.
Key Highlights
- 3,788 SF triplex built in 1920
- Upstairs unit has 3 bedrooms and 1.5 bathrooms with walkout deck access
- Deck nearly 1,000 SF above the two‑bay garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,966
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$959,320
$959.3K
Cap Rate 7%
$685,229
$685.2K
Cap Rate 9%
$532,956
$533.0K
Market Conditions
NOI Build-Up for 3,788 SF
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.
Gross rent
$75.0K $19.80/SF
− Vacancy
−$6.5K −$1.71/SF
EGI
$68.5K $18.09/SF
− OpEx
−$20.6K −$5.43/SF
NOI
$48.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$959,320
Cap Rate 7%
$685,229
Cap Rate 9%
$532,956
Alternative Uses
Best Use
Multifamily LT 5
$685.2K
$599.6K – $799.4K
NOI $47,966 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$629.8K
$551.1K – $734.8K
NOI $44,088 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$962.8K
$842.4K – $1.12M
NOI $67,395 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,033
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex featuring central heat and air, gated unit access, and outdoor space with a two-bay garage and deck.
Where is this triplex located?
The property is located at 3619 BURGUNDY Street New Orleans, LA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 3,788 SF triplex built in 1920; Upstairs unit has 3 bedrooms and 1.5 bathrooms with walkout deck access; Deck nearly 1,000 SF above the two‑bay garage
