Building Details

Year Built 1978

Listing Agency: NOLA Living Realty

Listed By: Kenneth Ackermann · License #995702356 Show Phone

Source: Dominionplace

Added: Aug 18 Changed: Sep 15 Last Checked: Oct 5 at 8:28PM

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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 NOLA Living Realty

Investment Insights

Based on property information with market context.

This 3,158-square-foot quadplex contains four units and was renovated in 2021. The improvements include refreshed interiors, new appliances, and contemporary finishes. An elevator connects all floors, while each unit has covered parking and the property includes additional exterior storage. Separate electric meters serve the individual units.

Located at 3001 5th St in Metairie, the building sits along the levee with direct access to nearby walking and biking paths. Upper-floor units have views of Lake Pontchartrain. The combination of four-unit configuration, updated building components, vertical accessibility, parking, and storage supports both owner-occupant and investor use.

Key Highlights

• Four‑unit quadplex with 3,158 square feet of building area
• Renovated in 2021 with updated interiors, new appliances, and modern finishes
• Elevator provides service to all floors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,770

Cap Rate

3.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$675,400 $675.4K

Cap Rate 7%

$482,429 $482.4K

Cap Rate 9%

$375,222 $375.2K

Market Conditions

NOI Build-Up for 3,158 SF

Gross rent

$51.2K $16.20/SF

− Vacancy

−$2.9K −$0.92/SF

EGI

$48.2K $15.28/SF

− OpEx

−$14.5K −$4.58/SF

NOI

$33.8K $10.69/SF

Area

Metairie, LA

Vacancy

5.70%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$675,400

Cap Rate 7%

$482,429

Cap Rate 9%

$375,222

Alternative Uses

Best Use

Multifamily LT 5

$482.4K

$422.1K – $562.8K (±1% cap)

NOI $33,770 @ 7.0% cap · market cap 3.99%

Second Best

Apartment 5plus

$419.8K

$367.4K – $489.8K (±1% cap)

NOI $29,388 @ 7.0% cap · market cap 3.47%

Theoretical Best

Office A

$739.5K

$647.1K – $862.8K (±1% cap)

NOI $51,767 @ 7.0% cap · market cap 6.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Currie Diane M ... Counselor Transition Counseling, LLC Medical Clinic David Wagner LPC Counselor Molly Ferguson Counseling Counselor Melito Tony Counselor

Suggested Use

Top Pick Daycare Center Parking Lot & Garage Locksmith Garden Center (Bike/Boat/Book/etc) Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,868

Businesses Nearby

Explore this area Business Placement

Demographics for 70002, LA

19,857

Population

9,585

Households

2.1

Avg Household Size

40

Median Age

50%

College-Educated

95%

High-School Grad

3.2 sq mi

ZIP Area

6,205

Density / Sq Mi

$65,576

Median Household Income

$50,983

Median Earnings

$1,128

Median Rent

$379,400

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit property with updated interiors, covered parking, exterior storage, and separate electric meters.

Where is this quadplex located?

The property is located at 3001 5th St Metairie, LA.

What is the asking price?

The asking price for this property is $846,900.

What are key features of this property?

This property features: Four‑unit quadplex with 3,158 square feet of building area; Renovated in 2021 with updated interiors, new appliances, and modern finishes; Elevator provides service to all floors