Fountainbleau 4-Plex Investment
2933 Pine Street, New Orleans, LA 70125
Two-story 4-plex in Fountainbleau area, great investment opportunity.
Type:MULTI FAMILY FOR SALE / Townhouse
Property size:
3,908 SFPrice / SF:
$157/SF- Added:
- Sep 8, 2024
- Days on Market:
- 633
- Last Refresh:
- Mar 13 at 2:26 pm
Property Features for 2933 Pine Street
General Information
- Standard status
- Active
- Size
- 3,908 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1970
Listing agent Karianne Chassee License #995712774 (225) 456-1363
Listing office eXp Realty, LLC (225) 456-1363
Listing date Sep 8, 2024
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 eXp Realty, LLC
HighLights
- Four‑unit (4‑plex) property offering immediate rental income from all units.
- Located in the desirable Fountainbleau area of New Orleans, adjacent to Dominican High School.
- Potential for owner occupancy with rental income from remaining units to cover mortgage.
- Modern conveniences in all units: washer/dryer hookups and central HVAC.
- Possible financing options: FHA (3.5% down) or bond for deed with attractive terms.
- Recent updates including renovation around 2015 and hardwood floors in lower units (2018).
Overview
Located in the Fountainbleau area of New Orleans, adjacent to Dominican High School, the two-story 4-plex at 2933 Pine Street presents an investment opportunity. The property features four units. The two ground-floor shotgun units each include 2 bedrooms and 2 bathrooms. The upper shotgun units also have 2 bedrooms, each with one bathroom and a rear deck. Each unit is equipped with washer and dryer hookups and a central HVAC system. Renovations were completed around 2015, and hardwood floors were added to the lower units in 2018. All four units are currently rented. One unit includes off-street parking for one car. The property size is 3908 square feet. The property may be eligible for 3.5% down financing through FHA. The seller is offering the possibility of financing the purchase via a bond for deed with attractive terms. One unit could be owner-occupied, with rental income from the other three units covering the mortgage.
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 | $77.4k | $19.80 |
| − Vacancy | −$6.7k | −$1.71 |
| EGI | $70.7k | $18.09 |
| − OpEx | −$21.2k | −$5.43 |
| NOI | $49.5k | $12.66 |
3,908 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$706.9K
$618.6K – $824.8K
NOI $49,485 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$649.8K
$568.6K – $758.1K
NOI $45,485 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$993.3K
$869.1K – $1.16M
NOI $69,530 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.1122897
- Latitude
- 29.9572295
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Two-story 4-plex in Fountainbleau area, great investment opportunity.
Where is this quadplex located?
The property is located at 2933 Pine Street New Orleans, LA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Four‑unit (4‑plex) property offering immediate rental income from all units.; Located in the desirable Fountainbleau area of New Orleans, adjacent to Dominican High School.; Potential for owner occupancy with rental income from remaining units to cover mortgage.
