4-Unit Townhouse-Style
For Sale
$619,000
1609 42nd Street, Kenner, LA 70065
Brick multifamily property with private balconies, central HVAC, and dedicated parking for each residence.
Property Size4,992 SF
Price / SF$123
Days on Market289
Property Features for 1609 42nd Street
General Information
Standard status
Active
Size
4,992 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Parking per Unit
2
Amenities
private balconies
central HVAC
Central Air
Central
2
4
8
Asphalt
Slab: Traditional
Brick
Building Details
Year Built
1977
Construction
brick
Listing Agency:
NOLA Living Realty
Listed By:
Chengwei Wu · License #995716694
(617) 602-0897
Source:
Compass
Added: Nov 19, 2025
Changed: Aug 31
Last Checked: Aug 30 at 6:13AM
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.
Built in 1977, this 4,992-square-foot quadplex contains four townhouse-style residences, each with two bedrooms and 1.5 baths. The brick building has a traditional slab foundation, central HVAC, private balconies, and two parking spaces assigned to each unit. The configuration provides four separate rental homes within one multifamily asset.
The property is located in Kenner around Vintage Dr, with access to Williams Blvd, shopping, dining, and other local amenities. Its established physical improvements and four-unit layout support a straightforward multifamily ownership structure.
The property is located in Kenner around Vintage Dr, with access to Williams Blvd, shopping, dining, and other local amenities. Its established physical improvements and four-unit layout support a straightforward multifamily ownership structure.
Key Highlights
- Four 2‑bedroom, 1.5‑bath townhouse‑style units
- 4,992 SF multifamily property built in 1977
- Brick construction with traditional slab foundation
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
$54,783
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
8.85%
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%
$1,095,660
$1.1M
Cap Rate 7%
$782,614
$782.6K
Cap Rate 9%
$608,700
$608.7K
Market Conditions
NOI Build-Up for 4,992 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
$85.7K $17.16/SF
− Vacancy
−$7.4K −$1.48/SF
EGI
$78.3K $15.68/SF
− OpEx
−$23.5K −$4.70/SF
NOI
$54.8K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$1,095,660
Cap Rate 7%
$782,614
Cap Rate 9%
$608,700
Alternative Uses
Best Use
Multifamily LT 5
$782.6K
$684.8K – $913.1K
NOI $54,783 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$731.6K
$640.2K – $853.6K
NOI $51,213 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,192 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 70065, LA
51,484
Population
21,890
Households
2.4
Avg Household Size
40
Median Age
32%
College-Educated
87%
High-School Grad
8.0 sq mi
ZIP Area
6,436
Density / Sq Mi
$65,899
Median Household Income
$41,058
Median Earnings
$1,123
Median Rent
$255,800
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?
Quadplex - Brick multifamily property with private balconies, central HVAC, and dedicated parking for each residence.
Where is this quadplex located?
The property is located at 1609 42nd Street Kenner, LA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1.5‑bath townhouse‑style units; 4,992 SF multifamily property built in 1977; Brick construction with traditional slab foundation
