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    Harahan Fourplex Investment Opportunity Title is generated by Realmo AI

    138-144 Normandy Avenue, Harahan, LA 70123

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    Claim this Listing
    For Sale
    $640,000

    Turnkey fourplex in Harahan with income growth potential.

    Type:MULTI FAMILY FOR SALE / Townhouse
    Property size:
    3,800 SF
    Price / SF:
    $168/SF
    Added:
    May 17, 2026
    Days on Market:
    16
    Last Refresh:
    May 27 at 12:23 pm

    Property Features for 138-144 Normandy Avenue

    General Information

    Standard status
    Active
    Size
    3,800 SF
    Property subtype
    MULTI FAMILY FOR SALE / Townhouse

    Building Details

    Year Built
    1975

    We can help!

    Listing Contact
    Nathan Lepre
    Nathan Lepre

    Listing agent Nathan Lepre License #995696922

    Listing office Lepre Living Realty LLC

    Listing date May 17, 2026

    Source Compass

    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 Lepre Living Realty LLC

    HighLights

    • Turnkey fourplex in highly desirable Harahan location.
    • Strong income growth potential with room for rental optimization.
    • Four units, each with 2 bedrooms, 1 bath, in‑unit laundry, central air/heat.
    • Located on a primarily single‑family residential street, an uncommon advantage for multifamily ownership.
    • Off‑street parking and gated yard.
    • Near Mississippi River levee with scenic views and outdoor recreation.

    Overview

    This fourplex is located in the community of Harahan, situated on a primarily single-family, residential street. The property offers income growth potential. Each of the four units includes 2 bedrooms and 1 full bath, spacious living rooms with large picture windows, generously sized kitchens with ample cabinetry and countertop space, central air and heat, in-unit laundry areas, tile and laminate wood flooring, crown molding, and ceiling fans. Outdoor amenities include off-street parking and a gated yard. The property is near the Mississippi River levee, and benefits from rental demand, river views, and access to outdoor recreation. The property size is 3800 square feet.

    Local Financial Insights For Multifamily LT 5

    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 $65.2k $17.16
    − Vacancy −$5.6k −$1.48
    EGI $59.6k $15.68
    − OpEx −$17.9k −$4.70
    NOI $41.7k $10.97
    3,800 SF · lease $17.16/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $595.7K
    $521.3K – $695.0K (±1% cap)
    NOI $41,702 @ 7.0% cap · market cap 6.52%
    Second Best
    Apartment 5plus
    $556.9K
    $487.3K – $649.7K (±1% cap)
    NOI $38,984 @ 7.0% cap · market cap 6.09%
    Theoretical Best
    Office A
    $974.8K
    $853.0K – $1.14M (±1% cap)
    NOI $68,237 @ 7.0% cap · market cap 10.66%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harahan
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.2142466
    Latitude
    29.9386593

    Nearby Similar for Sale

    • $1,100,000
      9,065 SF

      Harahan Office Building For Sale

      Solid office building with excellent layout in Harahan, Louisiana.
      1425 SAMS Avenue, Harahan, LA 70123
      View Details
    • $550,000
      1 SF

      Retail Property on Hickory Avenue

      Property on Hickory Avenue with high traffic and commercial potential.
      1629 Hickory Avenue Harahan, LA 70123, LA 70123
      View Details

    FAQs

    What type of property is this?
    Quadplex - Turnkey fourplex in Harahan with income growth potential.
    Where is this quadplex located?
    The property is located at 138-144 Normandy Avenue Harahan, LA.
    What is the asking price?
    The asking price for this property is $640,000.
    What are key features of this property?
    This property features: Turnkey fourplex in highly desirable Harahan location.; Strong income growth potential with room for rental optimization.; Four units, each with **2 bedrooms, 1 bath, in‑unit laundry, central air/heat.**
    (504) 914-6510
    We can help!
    Listing Contact
    Nathan Lepre
    Nathan Lepre
    Real Estate License ID: 995696922
    Learn More
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    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
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