Four-Unit
For Sale
$225,000
2020-22 Seventh Street, New Orleans, LA 70115
Two units are occupied, while the remaining units include one under construction.
Property Size2,138 SF
Price / SF$105.24
Days on Market248
Property Features for 2020-22 Seventh Street
General Information
Standard status
Active
Size
2,138 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Public Transit
Yes
Multifamily Units
4
Amenities
Window Unit(s)
Natural Gas
1
4
Asphalt
Pillar/Post/Pier
Wood Siding
Building Details
Year Built
1920
Buildings
1
Construction
shotgun-style
Listing Agency:
FQR Realtors
(713) 289-9911
Listed By:
Julia Mansour · License #995718314
(713) 289-9911
Source:
Compass
Added: Dec 26, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:24AM
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 FQR Realtors
Investment Insights
Based on property information with market context.
This 2,138-square-foot quadplex contains four matching shotgun-style units within a 1920-built property. Two units are occupied, and the other two are vacant; one vacant unit is currently under construction. Interior features include window unit air conditioning and natural gas service. The building has wood siding, an asphalt exterior surface, and a pillar/post/pier foundation. Located at 2020-22 Seventh Street in New Orleans, the property sits four blocks from St. Charles Avenue with access to downtown. All four units share the same basic layout, providing a consistent configuration across the building.
Key Highlights
- Four matching shotgun‑style units
- 2,138 square feet in a 1920‑built property
- Two units occupied; two units vacant
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
$18,376
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
8.17%
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%
$367,520
$367.5K
Cap Rate 7%
$262,514
$262.5K
Cap Rate 9%
$204,178
$204.2K
Market Conditions
NOI Build-Up for 2,138 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
$28.7K $13.44/SF
− Vacancy
−$2.5K −$1.16/SF
EGI
$26.3K $12.28/SF
− OpEx
−$7.9K −$3.68/SF
NOI
$18.4K $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%
$367,520
Cap Rate 7%
$262,514
Cap Rate 9%
$204,178
Alternative Uses
Best Use
Multifamily LT 5
$262.5K
$229.7K – $306.3K
NOI $18,376 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$232.7K
$203.6K – $271.5K
NOI $16,290 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$564.1K
$493.6K – $658.1K
NOI $39,485 @ 7.0% cap · market cap 17.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,048
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Two units are occupied, while the remaining units include one under construction.
Where is this quadplex located?
The property is located at 2020-22 Seventh Street New Orleans, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Four matching shotgun‑style units; 2,138 square feet in a 1920‑built property; Two units occupied; two units vacant
