French Quarter Multi-Unit
821-23 Barracks Street New Orleans, LA 70116
821-23 Barracks Street, New Orleans, LA, 70116
$999,000
For Sale
$999,000
Converted into four units with a two-story rear carriage house, French Quarter-style interiors, and a private courtyard.
Property Size3,367 SF
Price / SF$296.70
Days on Market93
Property Features for 821-23 Barracks Street
General Information
- Standard status
- Active
- Size
- 3,367 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1875
Listing agency
Crescent Sotheby's International
(504) 495-2387
Listed by
David Smith · License #000009702
(504) 495-2387
Source
Compass
Added: Apr 22 Updated: Jul 22 at 12:59PM Checked: Jul 22 at 12:59PM
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 Crescent Sotheby's International
Investment Insights
Based on property information with market context.
This French Quarter-style property has been converted from a main home into four separate units, complemented by a two-story carriage house in the rear. Interiors feature original architectural details that are described as preserved, including hardwood floors, soaring ceilings, and intricate moldings. Unit access includes options for front and rear balcony use and access through the private courtyard, which is positioned for outdoor entertaining or dining.
Located in the heart of the French Quarter, the property is described as within walking distance of dining, shopping, and entertainment, with nearby references including Royal Street and Chartres Street, as well as Jackson Square, St. Louis Cathedral, and the French Market. Annual events noted in the remarks include Mardi Gras, the French Quarter Festival, and the New Orleans Jazz & Heritage Festival.
Located in the heart of the French Quarter, the property is described as within walking distance of dining, shopping, and entertainment, with nearby references including Royal Street and Chartres Street, as well as Jackson Square, St. Louis Cathedral, and the French Market. Annual events noted in the remarks include Mardi Gras, the French Quarter Festival, and the New Orleans Jazz & Heritage Festival.
Key Highlights
- Converted French Quarter main home into 4 separate units with a two‑story rear carriage house
- 5 bedrooms and 6 full bathrooms across the main home and rear carriage house
- Two‑story property with balcony access at the front and rear and a private courtyard
Local 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 | $66.7k | $19.80 |
| − Vacancy | −$5.8k | −$1.71 |
| EGI | $60.9k | $18.09 |
| − OpEx | −$18.3k | −$5.43 |
| NOI | $42.6k | $12.66 |
3,367 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$609.1K
$532.9K – $710.6K
NOI $42,635 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$559.8K
$489.9K – $653.1K
NOI $39,188 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$855.8K
$748.8K – $998.4K
NOI $59,905 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Converted into four units with a two-story rear carriage house, French Quarter-style interiors, and a private courtyard.
Where is this quadplex located?
The property is located at 821-23 Barracks Street New Orleans, LA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Converted French Quarter main home into 4 separate units with a two‑story rear carriage house; 5 bedrooms and 6 full bathrooms across the main home and rear carriage house; Two‑story property with balcony access at the front and rear and a private courtyard
