Fourplex Income
For Sale
$685,000
1820 TOLEDANO Street, New Orleans, LA 70115
MULTI_FAMILY - New Orleans, LA
Property Size3,926 SF
Price / SF$174.48
Days on Market69
Property Features for 1820 TOLEDANO Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Balcony, Fence
Fencing
Fenced
Lot features
Regular
Subdivision
Uptown
Standard status
Active
APN
1820-toledanost
Size
3,926 SF
Taxes and HOA fees
Tax Description
SQ 465 LOT 24
Legal Description
SQ 465 LOT 24
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Water source
Public
Amenities
front porch access
private deck space
additional storage space
Building Details
Year built
1963
Floors in Building
2
Number of units
4
Roof type
Shingle
Architectural style
Other
Listing Agency:
Witry Collective, L.L.C.
(504) 291-2022
Listed By:
Joshua Walther · License #000076446
(504) 453-2277
Added: Jun 24
Changed: Aug 3
Last Checked: Aug 31 at 12:06PM
MLS# 2564138
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fourplex offers a mix of unit configurations, with the two upper units served by central HVAC systems and the two lower units equipped with window units. Lower-level residents have front-porch access, while the upper units include private deck space. Additional storage is also provided, and all appliances convey with the sale.
Located in Uptown New Orleans at 1820 Toledano Street, the property is described as being about three blocks from St. Charles Avenue and the streetcar line, and about one block from Louisiana Avenue with multiple RTA bus routes nearby. The offering is also positioned near the Mardi Gras parade route and within reach of Fresh Market, Touro Hospital, and the dining and retail options along Magazine Street.
All units are presented as part of a turnkey investment or owner-occupant setup, depending on the buyer’s preference.
Located in Uptown New Orleans at 1820 Toledano Street, the property is described as being about three blocks from St. Charles Avenue and the streetcar line, and about one block from Louisiana Avenue with multiple RTA bus routes nearby. The offering is also positioned near the Mardi Gras parade route and within reach of Fresh Market, Touro Hospital, and the dining and retail options along Magazine Street.
All units are presented as part of a turnkey investment or owner-occupant setup, depending on the buyer’s preference.
Key Highlights
- Uptown New Orleans 4‑plex built in 1963 with public water and a shingle roof
- Two upper units have central HVAC; two lower units use window unit cooling
- Lower units include front porch access; upper units offer private deck space
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
$33,745
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
4.93%
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%
$674,900
$674.9K
Cap Rate 7%
$482,071
$482.1K
Cap Rate 9%
$374,944
$374.9K
Market Conditions
NOI Build-Up for 3,926 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
$52.8K $13.44/SF
− Vacancy
−$4.6K −$1.16/SF
EGI
$48.2K $12.28/SF
− OpEx
−$14.5K −$3.68/SF
NOI
$33.7K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /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%
$674,900
Cap Rate 7%
$482,071
Cap Rate 9%
$374,944
Alternative Uses
Best Use
Multifamily LT 5
$482.1K
$421.8K – $562.4K
NOI $33,745 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$427.3K
$373.9K – $498.6K
NOI $29,913 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$1.04M
$906.3K – $1.21M
NOI $72,505 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,751
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?
Quadplex - Two upper units with central HVAC and two lower units with window units, plus porches, decks, and conveyed appliances.
Where is this quadplex located?
The property is located at 1820 TOLEDANO Street New Orleans, LA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Uptown New Orleans 4‑plex built in 1963 with public water and a shingle roof; Two upper units have central HVAC; two lower units use window unit cooling; Lower units include front porch access; upper units offer private deck space
