Five-Unit Multifamily
4909 Laurel Street New Orleans, LA 70115
4909 Laurel Street, New Orleans, LA, 70115
$705,000
For Sale
$705,000
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 Market703
Property Features for 4909 Laurel Street
General Information
- Standard status
- Active
- Size
- 3,457 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1928
Listing agency
Upper Management Realty, LLC
(504) 343-1837
Listed by
Olivia Ford · License #995686875
(504) 343-1837
Source
Compass
Added: Aug 18, 2024 Updated: Jul 20 at 7:19PM 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
Local Financial Insights For Apartment 5plus
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 | $52.7k | $15.24 |
| − Vacancy | −$4.8k | −$1.39 |
| EGI | $47.9k | $13.85 |
| − OpEx | −$21.6k | −$6.23 |
| NOI | $26.3k | $7.62 |
3,457 SF · lease $15.24/SF/yr · vacancy 9.10% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Raven Nine Consultants
Law Firm
Similar For Sale Nearby
FAQs
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
