3-Unit Triplex with Recent
New
For Sale
$444,900
700 MILAN Street, New Orleans, LA 70115
Multifamily, 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
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Off Street
Lot features
Corner Lot
Standard status
Active
APN
700-MILANST
Size
2,728 SF
Additional Details
Tenant in Place
Yes
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
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
3
Building materials
Vinyl Siding
Listing Agency:
Realty One Group Immobilia
(985) 218-8081
Listed By:
Keitisha Young · License #995706701
(985) 201-4748
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 2:06PM
MLS# 2582541
Copyright © 2026 ROAM MLS. 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.
At 700 Milan Street, this triplex contains three occupied residences with a combined 6 bedrooms, 3 bathrooms, and approximately 2,728 square feet. The 1930-built property has vinyl siding, window-unit cooling, off-street parking, public water, and public sewer. Updates include a roof replacement in 2022, new windows in April 2025, and new electrical service and breaker panels in spring 2026. One unit received a water heater in 2025, and another has three new window air conditioners.
The property is near Magazine Street shops, restaurants, and coffee shops, as well as Laurence Square, grocery stores, Tipitina's, and St. Charles streetcar access. Downtown, the Warehouse District, Tulane University, and Loyola University are also accessible. The reported flood designation is X500. Showings require at least 48 hours' notice.
The property is near Magazine Street shops, restaurants, and coffee shops, as well as Laurence Square, grocery stores, Tipitina's, and St. Charles streetcar access. Downtown, the Warehouse District, Tulane University, and Loyola University are also accessible. The reported flood designation is X500. Showings require at least 48 hours' notice.
Key Highlights
- Three occupied units with 6 bedrooms and 3 bathrooms across approximately 2,728 square feet
- Roof replaced in 2022; windows installed in April 2025
- New electrical service and breaker panels added in spring 2026
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 residences offer six bedrooms, three bathrooms, and off-street parking.
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 occupied units with 6 bedrooms and 3 bathrooms across approximately 2,728 square feet; Roof replaced in 2022; windows installed in April 2025; New electrical service and breaker panels added in spring 2026
