French Quarter Tri-Plex
622-24 Burgundy Street New Orleans, LA 70112
For Sale
$795,500
Well-maintained tri-plex built in 1841 with in-unit washer and dryer, hardwood floors, and central HVAC.
Property Size2,567 SF
Price / SF$309.89
Days on Market10
Property Features for 622-24 Burgundy Street
General Information
- Standard status
- Active
- Size
- 2,567 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1841
Listing Agency:
Ricci Real Estate
(504) 258-1800
Listed By:
Steve Richards · License #995683048
(504) 258-1800
Source:
Compass
Added: Jul 14
Changed: Jul 22
Last Checked: Jul 23 at 8:46AM
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 Ricci Real Estate
Investment Insights
Based on property information with market context.
Located on Burgundy Street in New Orleans’ French Quarter, this well-maintained tri-plex dates back to 1841 and offers three residential units. All units include washer and dryer, recently updated appliances, hardwood flooring, and central HVAC.
Two units are front-facing with floor-to-ceiling opening front windows, front stoops, and exterior shutters. The larger rear unit is currently occupied and provides direct courtyard access, along with a separate dedicated laundry/storage room. One unit is currently vacant and ready for showings, with occupied-unit tours available with additional notice.
Detailed floor-plan and property disclosures are available to support your review ahead of an in-person showing.
Two units are front-facing with floor-to-ceiling opening front windows, front stoops, and exterior shutters. The larger rear unit is currently occupied and provides direct courtyard access, along with a separate dedicated laundry/storage room. One unit is currently vacant and ready for showings, with occupied-unit tours available with additional notice.
Detailed floor-plan and property disclosures are available to support your review ahead of an in-person showing.
Key Highlights
- Well‑maintained French Quarter tri‑plex on Burgundy Street built in 1841
- All units include in‑unit washer and dryer, plus recently updated appliances and hardwood flooring
- Central air and central heating throughout the units
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 | $50.8k | $19.80 |
| − Vacancy | −$4.4k | −$1.71 |
| EGI | $46.4k | $18.09 |
| − OpEx | −$13.9k | −$5.43 |
| NOI | $32.5k | $12.66 |
2,567 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$464.4K
$406.3K – $541.8K
NOI $32,505 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$426.8K
$373.5K – $498.0K
NOI $29,877 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$652.4K
$570.9K – $761.2K
NOI $45,671 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Well-maintained tri-plex built in 1841 with in-unit washer and dryer, hardwood floors, and central HVAC.
Where is this triplex located?
The property is located at 622-24 Burgundy Street New Orleans, LA.
What is the asking price?
The asking price for this property is $795,500.
What are key features of this property?
This property features: Well‑maintained French Quarter tri‑plex on Burgundy Street built in 1841; All units include in‑unit washer and dryer, plus recently updated appliances and hardwood flooring; Central air and central heating throughout the units
