Brick 4-Unit Quadplex with Off-Street
For Sale
$525,000
2908 KENTUCKY Avenue, Kenner, LA 70065
Multi-Family, Traditional, Kenner, LA
Property Size4,000 SF
Price / SF$131.25
Days on Market47
Property Features for 2908 KENTUCKY Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Off Street, Driveway
Exterior features
Fence
Fencing
Fenced
Subdivision
Westlake
Lot features
Regular
Standard status
Active
APN
0920017784
Size
4,000 SF
Taxes and HOA fees
Tax Description
Lot 8-A SQ 288 Westlake 10908 641
Legal Description
Lot 8-A SQ 288 Westlake 10908 641
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry hookups
Building Details
Year built
1975
Floors in Building
2
Number of units
4
Architectural style
Other
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Ingrid Garvey · License #995695960
(504) 884-7777
Added: Jul 17
Changed: Aug 19
Last Checked: Sep 1 at 10:06AM
MLS# 2568104
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 4-unit brick quadplex contains 4,000 square feet and was built in 1975. Each two-story unit places the bedrooms upstairs, with den space connected to the kitchen and laundry hookups. Central heating and central air serve the building, while public water supports the property. A fence, driveway, and additional off-street parking are included.
The property is located on Kentucky Avenue in Kenner, within ZIP Code 70065. The building has two long-term tenants, and a termite contract is in place. The property information also states that the building has never flooded.
The property is located on Kentucky Avenue in Kenner, within ZIP Code 70065. The building has two long-term tenants, and a termite contract is in place. The property information also states that the building has never flooded.
Key Highlights
- 4‑unit brick quadplex totaling 4,000 square feet
- Built in 1975 with two‑story unit layouts
- Upper‑level bedrooms, den areas, and kitchen connections
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
$43,897
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
8.36%
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%
$877,940
$877.9K
Cap Rate 7%
$627,100
$627.1K
Cap Rate 9%
$487,744
$487.7K
Market Conditions
NOI Build-Up for 4,000 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
$68.6K $17.16/SF
− Vacancy
−$5.9K −$1.48/SF
EGI
$62.7K $15.68/SF
− OpEx
−$18.8K −$4.70/SF
NOI
$43.9K $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%
$877,940
Cap Rate 7%
$627,100
Cap Rate 9%
$487,744
Alternative Uses
Best Use
Multifamily LT 5
$627.1K
$548.7K – $731.6K
NOI $43,897 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$586.2K
$513.0K – $683.9K
NOI $41,036 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$1.06M
$923.4K – $1.23M
NOI $73,872 @ 7.0% cap · market cap 14.07%
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
1,087
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 - Two-story unit layouts include upper-level bedrooms, den areas, and kitchens with laundry hookups.
Where is this quadplex located?
The property is located at 2908 KENTUCKY Avenue Kenner, LA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 4‑unit brick quadplex totaling 4,000 square feet; Built in 1975 with two‑story unit layouts; Upper‑level bedrooms, den areas, and kitchen connections
