Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1900 St Philip St New Orleans, LA 70116

    • Residential income homes
    • 6,740 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 1900 St Philip St

    Year built
    1923
    Property size
    6,740 SF
    Property type
    Residential income homes

    Description

    This exceptional 7-unit multifamily investment portfolio in New Orleans' vibrant Treme neighborhood presents a compelling opportunity. Comprising three renovated duplexes and one single-family home, all situated within a single city block, this stabilized property boasts a total of 6,740 square feet. Each of the four buildings underwent complete renovations in 2023, encompassing new roofs, electrical systems, and plumbing. The three duplexes are currently generating a combined monthly rental income of $8,140 from long-term tenants. The single-family home operates as a successful short-term rental (STR), projecting monthly income between $4,000 and $6,000. Conveniently located minutes from the French Quarter and downtown, this portfolio offers easy access to major highways (I-10 and US-90), and is in close proximity to University Medical Center and the VA Hospital. Built in 1923, this property is zoned HU-RD2. The asking price is $1,499,000, representing a price per unit of $214,143. Owner financing and bond for deed options are available. An included LLC offers a cost segregation study, providing a substantial first-year tax deduction of $611,000. This turnkey investment is ready for immediate income generation. Detailed financial information is available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.0731
    Latitude
    29.9677

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      924 Orleans St

      Multifamily properties • 5,000 SF
      924 Orleans St, New Orleans, LA 70116
      View Details
    • Value Estimation
      $1,040,000
      8,516 SF

      1003 Bourbon St

      BOARDING/ROOMING HOUSE • 8,516 SF
      1003 Bourbon St, New Orleans, LA 70116-2707
      View Details
    • Value Estimation by Request

      1936 St Philip St

      Multifamily properties
      1936 St Philip St, New Orleans, LA 70116
      View Details
    • Value Estimation
      $840,000
      7,000 SF

      623 Ursulines Ave

      BOARDING/ROOMING HOUSE • 7,000 SF
      623 Ursulines Ave, New Orleans, LA 70116-3203
      View Details
    • Value Estimation
      $555,000
      5,315 SF

      730 Dumaine St

      BOARDING/ROOMING HOUSE • 5,315 SF
      730 Dumaine St, New Orleans, LA 70116-3109
      View Details
    • Value Estimation by Request
      6,945 SF

      1608 Governor Nicholls St

      Multifamily properties • 6,945 SF
      1608 Governor Nicholls St, New Orleans, LA 70116
      View Details

    Similar Nearby for Sale

    • $2,340,000
      6,069 SF

      French Quarter Income Property

      Historic French Quarter multi-family property with seven income-producing units.
      1309 Dauphine St, New Orleans, LA 70116
      View Details
    • $569,000
      2,011 SF

      New Orleans Duplex with Charm

      Historic New Orleans duplex with modern amenities and vibrant location.
      1428-1430 Chartres St, New Orleans, LA 70116
      View Details
    • $275,000
      2,696 SF

      St Bernard Avenue Triplex

      Triplex in New Orleans, conveniently located near Mid-City and downtown.
      1830 Saint Bernard Ave, New Orleans, LA 70116
      View Details
    • Contact for pricing

      Multifamily Portfolio in New Orleans

      Portfolio of four multifamily properties with 1,512 units in New Orleans.
      Northeast New Orleans St, New Orleans, LA 70116
      View Details
    • $2,350,000
      7,260 SF

      French Quarter Multifamily Investment

      Historic 10-unit apartment building, prime location.
      522 Madison St, New Orleans, LA 70116
      View Details
    • Contact for pricing
      858 SF

      Renovated French Quarter Loft Condo

      Stunning renovated loft with French Quarter views and modern amenities.
      516 Governor Nicholls St, New Orleans, LA 70116
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      700 SF

      Restored Apartment in Historic Treme

      Luxury 2BR/1BA apartment in Treme, available September 1st.
      1428 Ursulines Ave, New Orleans, LA 70116
      View Details
    • Contact for pricing
      550 SF

      Charming New Orleans Quadplex Apartment

      Character-filled apartment with utilities included in a vibrant location.
      1516 Saint Ann St, New Orleans, LA 70116
      View Details
    • Contact for pricing
      8,000 SF

      Retail and Apartment Building

      Retail suites and apartments for rent on N Claiborne.
      1950 N Claiborne Ave, New Orleans, LA 70116
      View Details
    • Contact for pricing

      New Orleans Two-Bedroom Apartment

      Recently constructed 2 bed, 1 bath apartment with natural light.
      1718 St. Ann St, New Orleans, LA 70116
      View Details
    • Contact for pricing
      830 SF

      Marigny Triangle Ground Level Apartment

      Two-bedroom, one-bath apartment in the Marigny Triangle, available 10/1/25.
      936 Kerlerec St, New Orleans, LA 70116
      View Details
    • $34 SF/Yr
      5,698 SF

      Decatur Street Retail Opportunity

      French Quarter Retail Space Available
      1222 Decatur St, New Orleans, LA 70116
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1900 St Philip St
    New Orleans, LA 70116
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!