Quadplex with Three-Bedroom
For Sale
$625,000
4120 Hessmer Avenue, Metairie, LA 70002
Brick multifamily building with central air and access to I-10.
Property Size4,100 SF
Price / SF$152.44
Days on Market166
Property Features for 4120 Hessmer Avenue
General Information
Standard status
Active
Size
4,100 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Units
Unit Mix
4 x 3BR/1.5BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
Central Air
Central
2
4
12
8
Asphalt
Slab: Traditional
Brick
Building Details
Year Built
1977
Listing Agency:
MA Maison Realty, LLC
(504) 810-7152
Listed By:
Shakira Heard · License #995707598
(504) 810-7152
Source:
Compass
Added: Mar 19
Changed: Aug 30
Last Checked: Aug 30 at 10:47PM
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 MA Maison Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1977, this 4100-square-foot quadplex contains four residential units, each arranged with three bedrooms and 1.5 bathrooms. The property features central air, a brick exterior, and a traditional slab foundation, providing a clearly defined multifamily configuration for continued residential use.
The building is located near Lakeside Mall, dining, and major retail destinations in Metairie. I-10 is readily accessible for travel throughout the surrounding area, while the property’s Hessmer Avenue address places it within an established neighborhood setting.
The building is located near Lakeside Mall, dining, and major retail destinations in Metairie. I-10 is readily accessible for travel throughout the surrounding area, while the property’s Hessmer Avenue address places it within an established neighborhood setting.
Key Highlights
- Four‑unit quadplex with 3 bedrooms and 1.5 bathrooms per unit
- 4100 SF multifamily property
- Built in 1977
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
$43,844
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
7.02%
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%
$876,880
$876.9K
Cap Rate 7%
$626,343
$626.3K
Cap Rate 9%
$487,156
$487.2K
Market Conditions
NOI Build-Up for 4,100 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
$66.4K $16.20/SF
− Vacancy
−$3.8K −$0.92/SF
EGI
$62.6K $15.28/SF
− OpEx
−$18.8K −$4.58/SF
NOI
$43.8K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /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%
$876,880
Cap Rate 7%
$626,343
Cap Rate 9%
$487,156
Alternative Uses
Best Use
Multifamily LT 5
$626.3K
$548.1K – $730.7K
NOI $43,844 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$545.1K
$476.9K – $635.9K
NOI $38,155 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$960.1K
$840.1K – $1.12M
NOI $67,208 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,401
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 - Brick multifamily building with central air and access to I-10.
Where is this quadplex located?
The property is located at 4120 Hessmer Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3 bedrooms and 1.5 bathrooms per unit; 4100 SF multifamily property; Built in 1977
