Creole-Style Multifamily
For Sale
$1,900,000
818 BOURBON Street, New Orleans, LA 70112
Multifamily, New Orleans, LA
Property Size5,000 SF
Price / SF$380
Days on Market159
Property Features for 818 BOURBON Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
6
Full bathrooms
11
Rooms
Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 8, Bedroom 2, Bedroom 6, Bathroom 6, Bathroom 2, Bathroom 9, Bathroom 10, Bathroom 7, Bedroom 5, Bathroom 11, Bedroom 7, Bedroom 3, Bathroom 8, Bedroom 4, Bathroom 4, Bathroom 5
Standard status
Active
APN
58
Size
5,000 SF
Taxes and HOA fees
Tax Description
1. SQ 58 LOT 18 BOURBON ST 2. 32X127 3. 818 BOURBON ST
Legal Description
1. SQ 58 LOT 18 BOURBON ST 2. 32X127 3. 818 BOURBON ST
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating)
Cooling system
Ductless, Wall Unit(s), Central Air
Water source
Public
Amenities
shared courtyard
Bourbon Street balcony
in-unit washer/dryers
Building Details
Year built
1837
Number of units
5
Building materials
Brick, Stucco
Architectural style
Creole
Buildings
1
Listing Agency:
Homesmart Realty South - Metairie · HomeSmart International
(504) 908-7653
Listed By:
Whitney Theresa Harrel · License #995714721
(713) 445-6614
Added: May 19
Changed: Oct 24
Last Checked: Oct 24 at 4:06PM
MLS# 2558863
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.
This 5,000-square-foot Creole-style multifamily offering at 818 Bourbon Street comprises Units 1A, 2A, and 3A across the first three floors of a condominium building. Built in 1837, the property features brick and stucco construction, contemporary kitchens, in-unit washer and dryers, and updated bath finishes. One condominium includes a Bourbon Street balcony, and residents have access to a shared courtyard. Central and ductless heating and cooling are present, with natural gas available and public water and sewer service.
The three-level offering fronts Bourbon Street in New Orleans’ French Quarter. The units may remain configured as separate residences or be combined for residential use, as described in the property information.
The three-level offering fronts Bourbon Street in New Orleans’ French Quarter. The units may remain configured as separate residences or be combined for residential use, as described in the property information.
Key Highlights
- 5,000 square feet across three floors
- Units 1A, 2A, and 3A are included in the offering
- Built in 1837; Creole architectural style with brick and stucco construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,194
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,163,880
$1.2M
Cap Rate 7%
$831,343
$831.3K
Cap Rate 9%
$646,600
$646.6K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$116.4K $23.28/SF
− Vacancy
−$10.6K −$2.12/SF
EGI
$105.8K $21.16/SF
− OpEx
−$47.6K −$9.52/SF
NOI
$58.2K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,163,880
Cap Rate 7%
$831,343
Cap Rate 9%
$646,600
Alternative Uses
Best Use
Apartment 5plus
$831.3K
$727.4K – $969.9K
NOI $58,194 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,958 @ 7.0% cap · market cap 4.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,171
Businesses Nearby
Explore this area
Business Placement
Demographics for 70112, LA
4,988
Population
3,711
Households
1.3
Avg Household Size
35
Median Age
44%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
4,988
Density / Sq Mi
$23,052
Median Household Income
$36,029
Median Earnings
$1,063
Median Rent
$398,400
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?
Multifamily property - Three Bourbon Street-facing levels offer residential space with contemporary kitchens and in-unit laundry.
Where is this multifamily property located?
The property is located at 818 BOURBON Street New Orleans, LA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 5,000 square feet across three floors; Units 1A, 2A, and 3A are included in the offering; Built in 1837; Creole architectural style with brick and stucco construction
