Triplex with Off-Street
For Sale
$580,000
4149-51 Canal Street, New Orleans, LA 70119
Well-maintained triplex with one vacant unit, 2024 roof and HVAC, and off-street parking for convenient daily use.
Property Size2,902 SF
Price / SF$199.86
Days on Market67
Property Features for 4149-51 Canal Street
General Information
Standard status
Active
Size
2,902 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
3
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
United Real Estate Partners LLC
(504) 621-9959
Listed By:
Clint Engvall · License #995706101
(504) 621-9959
Source:
Compass
Added: May 25
Changed: Jul 10
Last Checked: Jul 30 at 11:22AM
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 well-maintained triplex offers a blend of historic New Orleans character and modern updates. Interior details include soaring ceilings, hardwood floors, decorative fireplaces, and abundant natural light, with spacious layouts across the units. One unit is currently vacant, providing flexibility for an owner-occupant while still generating rental income from the remaining units. Recent improvements include a new roof and new HVAC systems installed in 2024, along with energy-efficient insulation and updated windows. The seller has also purchased a home warranty for added buyer confidence.
The property is positioned steps from the Canal Streetcar line, placing it within easy reach of downtown, restaurants, shopping, and local neighborhood favorites. Off-street parking is available on both sides of the building, adding day-to-day convenience for tenants and guests.
For buyers seeking a residential income property with on-site living options, the current unit vacancy can simplify move-in planning while preserving income from the other units. The combination of recent mechanical and envelope updates, along with thoughtful interior finishes, supports a practical, ready-to-own configuration for investors and owner-occupants alike.
The property is positioned steps from the Canal Streetcar line, placing it within easy reach of downtown, restaurants, shopping, and local neighborhood favorites. Off-street parking is available on both sides of the building, adding day-to-day convenience for tenants and guests.
For buyers seeking a residential income property with on-site living options, the current unit vacancy can simplify move-in planning while preserving income from the other units. The combination of recent mechanical and envelope updates, along with thoughtful interior finishes, supports a practical, ready-to-own configuration for investors and owner-occupants alike.
Key Highlights
- 2‑story triplex (1950) with 5 bedrooms and 3 full bathrooms
- One unit is currently vacant
- Roof and HVAC systems were installed in 2024
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 | $57.5k | $19.80 |
| − Vacancy | −$5.0k | −$1.71 |
| EGI | $52.5k | $18.09 |
| − OpEx | −$15.7k | −$5.43 |
| NOI | $36.7k | $12.66 |
2,902 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$525.0K
$459.3K – $612.5K
NOI $36,747 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$482.5K
$422.2K – $562.9K
NOI $33,776 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$759.4K
$664.4K – $885.9K
NOI $53,155 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Well-maintained triplex with one vacant unit, 2024 roof and HVAC, and off-street parking for convenient daily use.
Where is this triplex located?
The property is located at 4149-51 Canal Street New Orleans, LA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 2‑story triplex (1950) with 5 bedrooms and 3 full bathrooms; One unit is currently vacant; Roof and HVAC systems were installed in 2024
