New Orleans Fourplex Investment
For Sale
Contact for pricing
2201 Annette St, New Orleans, LA 70119
Fully occupied fourplex in a rapidly developing New Orleans neighborhood.
Property Size3,016 SF
Price / SF$157.49
Days on Market961
Property Features for 2201 Annette St
General Information
Standard status
Active
Size
3,016 SF
Property subtype
Multifamily
Zoning
HU-RD2
Occupancy
100%
Investment Type
Value Add
Building Details
Year Built
1970
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Elifin Realty - New Orleans, LA
Listed By:
Benji Azar · License #LA
(504) 289-7750
Source:
Crexi
Added: Feb 19, 2024
Changed: Sep 28
Last Checked: Oct 7 at 9:50AM
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 Elifin Realty - New Orleans, LA
Investment Insights
Based on property information with market context.
Located on Annette Street, this fully occupied fourplex offers an investment opportunity in a rapidly growing and transforming New Orleans neighborhood. The property has a building size of approximately 3,016 square feet. The multifamily zoning (HU-RD2) distinguishes this property within the neighborhood. The complex is positioned to generate strong cash flow, with potential for increased rents through cosmetic and amenity upgrades. The location near St Bernard Avenue places it in an area with ongoing new construction and renovations, appealing to tenants. Its location provides convenient access, approximately 3 minutes, to I-10. Residents benefit from the property's proximity to key city attractions, including the Faubourg Marigny, the Fairgrounds, St Roch Market, and the French Quarter.
Key Highlights
- 100% Occupied Fourplex: Provides immediate and strong cash flow.
- Multifamily Zoning (HU‑RD2): Allows for potential expansion or redevelopment.
- Value‑Add Potential: Increase rents through cosmetic and amenity upgrades.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,190
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,800
$763.8K
Cap Rate 7%
$545,571
$545.6K
Cap Rate 9%
$424,333
$424.3K
Market Conditions
NOI Build-Up for 3,016 SF
Gross rent
$59.7K $19.80/SF
− Vacancy
−$5.2K −$1.71/SF
EGI
$54.6K $18.09/SF
− OpEx
−$16.4K −$5.43/SF
NOI
$38.2K $12.66/SF
Area
ZIP 70119
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$763,800
Cap Rate 7%
$545,571
Cap Rate 9%
$424,333
Alternative Uses
Best Use
Multifamily LT 5
$545.6K
$477.4K – $636.5K
NOI $38,190 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$501.5K
$438.8K – $585.1K
NOI $35,103 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$789.2K
$690.5K – $920.7K
NOI $55,243 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied fourplex in a rapidly developing New Orleans neighborhood.
Where is this quadplex located?
The property is located at 2201 Annette St New Orleans, LA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 100% Occupied Fourplex: Provides immediate and strong cash flow.; Multifamily Zoning (HU‑RD2): Allows for potential expansion or redevelopment.; Value‑Add Potential: Increase rents through cosmetic and amenity upgrades.
