Hoffman Triangle Fourplex
For Sale
$339,000
3909 4TH Street, New Orleans, LA 70125
Fourplex in Hoffman Triangle with value-add potential and convenient location.
Property Size2,584 SF
Lot Size0.08 Acres
Price / SF$131.19
Days on Market535
Property Features for 3909 4TH Street
General Information
Standard status
Active
Size
2,584 SF
Lot size
0.08 Acres
Property subtype
Multi Family
Building Details
Year Built
1920
Listing Agency:
Keller Williams Realty Services
(985) 789-8717
Listed By:
Gregg Tepper · License #995700267
(985) 789-8717
Source:
Exitrealty
Added: Feb 23, 2025
Changed: Aug 8
Last Checked: Jul 16 at 7:36AM
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 Keller Williams Realty Services
Investment Insights
Based on property information with market context.
This fourplex is located in Hoffman Triangle. The property offers an opportunity to collect rent while adding value. The upstairs units feature high ceilings, abundant natural light, and newer flooring. The roof is two years old. One of the downstairs units is currently leased. The location is noted as convenient. According to the listing, rents for a one-bedroom unit in the area can reach as high as $1,150 per month. There is a potential opportunity to purchase a neighboring commercial building, formerly a bar/restaurant, along with a renovated double, to create a package deal and own the block. The property size is 2,584 square feet.
Key Highlights
- 4‑Plex in Hoffman Triangle offers immediate rental income.
- Opportunity to increase value through renovations.
- Newer roof (2 years old).
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
$30,075
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
8.87%
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%
$601,500
$601.5K
Cap Rate 7%
$429,643
$429.6K
Cap Rate 9%
$334,167
$334.2K
Market Conditions
NOI Build-Up for 2,584 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
$60.2K $23.28/SF
− Vacancy
−$5.5K −$2.12/SF
EGI
$54.7K $21.16/SF
− OpEx
−$24.6K −$9.52/SF
NOI
$30.1K $11.64/SF
Area
New Orleans, LA
Vacancy
9.10%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$601,500
Cap Rate 7%
$429,643
Cap Rate 9%
$334,167
Alternative Uses
Best Use
Multifamily LT 5
$467.4K
$409.0K – $545.3K
NOI $32,720 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$429.6K
$375.9K – $501.3K
NOI $30,075 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$656.8K
$574.7K – $766.2K
NOI $45,974 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
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 - Fourplex in Hoffman Triangle with value-add potential and convenient location.
Where is this quadplex located?
The property is located at 3909 4TH Street New Orleans, LA.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 4‑Plex in Hoffman Triangle offers immediate rental income.; Opportunity to increase value through renovations.; Newer roof (2 years old).
