Three-Unit Residential Income
New
For Sale
$444,900
700 MILAN Street, New Orleans, LA 70115
Multi-Family, New Orleans, LA
Property Size2,728 SF
Price / SF$163.09
Days on Market4
Property Features for 700 MILAN Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street
Exterior features
Fence
Fencing
Fenced
Lot features
Corner
Subdivision
UPPER EAST RIVERSIDE
Standard status
Active
APN
700-MILANST
Size
2,728 SF
Taxes and HOA fees
Tax Description
SQ 172 LOT PT 24 MILAN AND LAUREL 28 X 102 700-02 MILAN & 4209 LAUREL
Legal Description
SQ 172 LOT PT 24 MILAN AND LAUREL 28 X 102 700-02 MILAN & 4209 LAUREL
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Roof type
Shingle
Listing Agency:
Realty One Group Immobilia
(985) 218-8081
Listed By:
Keitisha Young
(985) 201-4748
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 23 at 5:06AM
MLS# 2582541
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.
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Investment Insights
Based on property information with market context.
This triplex at 700 Milan Street contains 6 bedrooms and 3 bathrooms across approximately 2,728 square feet. All three units are occupied by longtime tenants. The property has a shingle roof, window-unit cooling, off-street parking and fencing. Public water serves the building.
Major improvements include a roof replacement in 2022, new windows in April 2025, and new electrical service and breaker panels in spring 2026. Unit 702 received a water heater in 2025, while Unit 4209 has three new window air conditioners. The reported flood designation is X500; buyers should verify this information. Showings require at least 48 hours’ notice.
Major improvements include a roof replacement in 2022, new windows in April 2025, and new electrical service and breaker panels in spring 2026. Unit 702 received a water heater in 2025, while Unit 4209 has three new window air conditioners. The reported flood designation is X500; buyers should verify this information. Showings require at least 48 hours’ notice.
Key Highlights
- Three‑unit property with 6 bedrooms and 3 bathrooms
- Approximately 2,728 square feet
- All three units occupied by longtime tenants; reported rent is $925 per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,448
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,960
$469.0K
Cap Rate 7%
$334,971
$335.0K
Cap Rate 9%
$260,533
$260.5K
Market Conditions
NOI Build-Up for 2,728 SF
Gross rent
$36.7K $13.44/SF
− Vacancy
−$3.2K −$1.16/SF
EGI
$33.5K $12.28/SF
− OpEx
−$10.0K −$3.68/SF
NOI
$23.4K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,960
Cap Rate 7%
$334,971
Cap Rate 9%
$260,533
Alternative Uses
Best Use
Multifamily LT 5
$335.0K
$293.1K – $390.8K
NOI $23,448 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$296.9K
$259.8K – $346.4K
NOI $20,785 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$719.7K
$629.8K – $839.7K
NOI $50,381 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,537
Businesses Nearby
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Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied units offer established rental income, with separate leases to review.
Where is this triplex located?
The property is located at 700 MILAN Street New Orleans, LA.
What is the asking price?
The asking price for this property is $444,900.
What are key features of this property?
This property features: Three‑unit property with 6 bedrooms and 3 bathrooms; Approximately 2,728 square feet; All three units occupied by longtime tenants; reported rent is $925 per unit
