Turnkey 4-Plex Income
For Sale
$500,000
3018 15th Street, Metairie, LA 70002
Four-unit income property with three leased units through 1/1/2027 and one vacant unit, offered as turnkey.
Days on Market10
Property Features for 3018 15th Street
General Information
Standard status
Active
Property subtype
Multi Family Home
Additional Details
Multifamily Units
4
Building Details
Building Size
4,096 SF
Year Built
1964
Listing Agency:
Nola Living Realty
(504) 259-7945
Listed By:
Eric Hernandez · License #995689934
(504) 259-7945
Source:
Nolalivingrealty
Added: Jul 21
Changed: Jul 28
Last Checked: Jul 28 at 5:30PM
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.
This turnkey 4-plex income property is well kept and income producing. Three units are currently occupied and have leases in place through 1/1/2027. One unit is vacant.
The unit mix consists of three 3-bedroom, 2-bath units and one 2-bedroom, 1-bath unit. The vacant unit is also a 3-bedroom, 2-bath. Public remarks note an interior bedroom measurement of 9 ft by 8 ft in one of the 3-bedroom, 2-bath units.
Showings are limited, with no showings available until Saturday 7/25/2026 from 12:00 PM to 1:00 PM.
The unit mix consists of three 3-bedroom, 2-bath units and one 2-bedroom, 1-bath unit. The vacant unit is also a 3-bedroom, 2-bath. Public remarks note an interior bedroom measurement of 9 ft by 8 ft in one of the 3-bedroom, 2-bath units.
Showings are limited, with no showings available until Saturday 7/25/2026 from 12:00 PM to 1:00 PM.
Key Highlights
- 1964‑built 4‑plex with 3 occupied units and 1 vacant unit
- 3 units have leases in place through 1/1/2027
- Unit mix: three 3 bed/2 bath units plus one 2 bed/1 bath unit
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 | $66.4k | $16.20 |
| − Vacancy | −$3.8k | −$0.92 |
| EGI | $62.6k | $15.28 |
| − OpEx | −$18.8k | −$4.58 |
| NOI | $43.8k | $10.69 |
4,096 SF · lease $16.20/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$625.7K
$547.5K – $730.0K
NOI $43,801 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$544.5K
$476.5K – $635.3K
NOI $38,117 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$959.2K
$839.3K – $1.12M
NOI $67,143 @ 7.0% cap · market cap 13.43%
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
3,565
Businesses Nearby
Explore this area
Business Placement
Demographics for 70002, LA
19,857
Population
9,585
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
6,205
Density / Sq Mi
$65,576
Median Household Income
$50,983
Median Earnings
$1,128
Median Rent
$379,400
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 - Four-unit income property with three leased units through 1/1/2027 and one vacant unit, offered as turnkey.
Where is this quadplex located?
The property is located at 3018 15th Street Metairie, LA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1964‑built 4‑plex with 3 occupied units and 1 vacant unit; 3 units have leases in place through 1/1/2027; Unit mix: three 3 bed/2 bath units plus one 2 bed/1 bath unit
