Historic Fourplex with Side
724 76 Philip Street New Orleans, LA 70130
For Sale
$899,000
Fully leased historic fourplex with four 1-bedroom, 1-bath units and rear side-drive access to the yard.
Property Size3,642 SF
Lot Size0.17 Acres
Price / SF$246.84
Days on Market114
Property Features for 724 76 Philip Street
General Information
- Standard status
- Active
- Size
- 3,642 SF
- Lot size
- 0.17 Acres
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1880
Listing Agency:
Fqr Realtors
(504) 914-5191
Listed By:
Billy Patout · License #995682469
(504) 914-5191
Source:
Nolalivingrealty
Added: Apr 2
Changed: Jul 22
Last Checked: Jul 23 at 7:39AM
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 Fqr Realtors
Investment Insights
Based on property information with market context.
This fully leased historic fourplex features four 1-bedroom, 1-bath units. The building includes original character such as hardwood floors, mantels, transom windows, historic millwork, and cast-iron tubs. A major renovation in 2000 updated key systems while preserving the architectural integrity, and select bathrooms have been updated with tile flooring and newer cabinetry.
The property offers rear-yard flexibility with rare side-drive access. The two upper units are fully electric and include central HVAC systems replaced in 2025, with a stated 5-year warranty. The two lower units provide gas cooking, gas space heaters, and window unit cooling.
Set on an oversized lot measuring approximately 45 x 160, the property also includes balcony/deck space totaling approximately 282 sq ft across the units.
The property offers rear-yard flexibility with rare side-drive access. The two upper units are fully electric and include central HVAC systems replaced in 2025, with a stated 5-year warranty. The two lower units provide gas cooking, gas space heaters, and window unit cooling.
Set on an oversized lot measuring approximately 45 x 160, the property also includes balcony/deck space totaling approximately 282 sq ft across the units.
Key Highlights
- Historic fourplex built in 1880 with four 1‑bedroom, 1‑bath units totaling approximately 3,642 sq ft
- Fully leased property with immediate, stable rental income; tenant occupied with 24‑hour notice to show
- 2000 renovation updated key systems while preserving historic character including hardwood floors, mantels, transom windows, and cast‑iron tubs
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 | $72.1k | $19.80 |
| − Vacancy | −$6.2k | −$1.71 |
| EGI | $65.9k | $18.09 |
| − OpEx | −$19.8k | −$5.43 |
| NOI | $46.1k | $12.66 |
3,642 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$658.8K
$576.5K – $768.6K
NOI $46,117 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$605.6K
$529.9K – $706.5K
NOI $42,389 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$925.7K
$810.0K – $1.08M
NOI $64,797 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully leased historic fourplex with four 1-bedroom, 1-bath units and rear side-drive access to the yard.
Where is this quadplex located?
The property is located at 724 76 Philip Street New Orleans, LA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Historic fourplex built in 1880 with four 1‑bedroom, 1‑bath units totaling approximately 3,642 sq ft; Fully leased property with immediate, stable rental income; tenant occupied with 24‑hour notice to show; 2000 renovation updated key systems while preserving historic character including hardwood floors, mantels, transom windows, and cast‑iron tubs
