Five-Unit Multifamily
For Sale
$705,000
4909 Laurel Street, New Orleans, LA 70115
Well maintained five-unit building with five electric meters and a three-year-old roof generating stated total rent.
Property Size3,457 SF
Price / SF$203.93
Days on Market748
Property Features for 4909 Laurel Street
General Information
Standard status
Active
Size
3,457 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
5
Amenities
Window Unit(s)
Other Heat
2
5
7
Onsite
Asphalt
Other
Slab: Traditional
Building Details
Year Built
1928
Listing Agency:
Upper Management Realty, LLC
Listed By:
Olivia Ford · License #995686875
(504) 343-1837
Source:
Compass
Added: Aug 18, 2024
Changed: Aug 8
Last Checked: Jul 20 at 7:19PM
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 Upper Management Realty, LLC
Investment Insights
Based on property information with market context.
This well maintained five-unit multifamily property is configured as five separate units with five electric meters. The roof is described as three years old, and the property is noted as having $6,000-plus in total rent based on the information provided.
The asset is located two blocks off Magazine Street in the Uptown area. The public remarks indicate it sits next door to Cherry Coffee Roasters and near Wisner Park, with Rouses, Whole Foods, and multiple restaurants, shops, and fitness studios only a few blocks away.
Offered for sale as a one-of-a-kind, income-focused residential property, this building presents a straightforward five-unit setup supported by the stated separate electric metering and recent roof replacement.
The asset is located two blocks off Magazine Street in the Uptown area. The public remarks indicate it sits next door to Cherry Coffee Roasters and near Wisner Park, with Rouses, Whole Foods, and multiple restaurants, shops, and fitness studios only a few blocks away.
Offered for sale as a one-of-a-kind, income-focused residential property, this building presents a straightforward five-unit setup supported by the stated separate electric metering and recent roof replacement.
Key Highlights
- Well maintained 5‑unit building with five electric meters
- 3‑year‑old roof
- Stated total rent over $6,000
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,340
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$526,800
$526.8K
Cap Rate 7%
$376,286
$376.3K
Cap Rate 9%
$292,667
$292.7K
Market Conditions
NOI Build-Up for 3,457 SF
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.
Gross rent
$52.7K $15.24/SF
− Vacancy
−$4.8K −$1.39/SF
EGI
$47.9K $13.85/SF
− OpEx
−$21.6K −$6.23/SF
NOI
$26.3K $7.62/SF
Area
ZIP 70115
Vacancy
9.10%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$526,800
Cap Rate 7%
$376,286
Cap Rate 9%
$292,667
Alternative Uses
Best Use
Apartment 5plus
$376.3K
$329.3K – $439.0K
NOI $26,340 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$912.1K
$798.1K – $1.06M
NOI $63,844 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well maintained five-unit building with five electric meters and a three-year-old roof generating stated total rent.
Where is this apartment building located?
The property is located at 4909 Laurel Street New Orleans, LA.
What is the asking price?
The asking price for this property is $705,000.
What are key features of this property?
This property features: Well maintained 5‑unit building with five electric meters; 3‑year‑old roof; Stated total rent over $6,000
