Multifamily Property with Fenced
4200-02 Franklin Avenue, New Orleans, LA 70122
For Sale
$415,000
Separate utilities serve the units, with central systems at Franklin and window units at Wisteria.
Property Size3,235 SF
Price / SF$128.28
Days on Market118
Property Features for 4200-02 Franklin Avenue
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Individually Metered Utilities
Tenant in Place
Amenities
fenced yard
Building Details
Building Size
Year Built
Units
Listing Agency:
Compass Kenner
(504) 443-6464
Listed By:
Nina R Loup · License LA #000026401
(504) 650-7177
Source:
Donaldjulienrealestate
Added: Jul 20
Changed: Nov 9
Last Checked: Nov 13 at 6:26PM
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 Compass Kenner
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,235-square-foot multifamily property was built in 1978 and includes a fenced yard. Units are occupied, and residents have lived there for more than five years. Utility service is separate; units on Franklin Avenue have central systems, while those on Wisteria use window units. The rear portion includes upper and lower levels. Tenants supply their appliances, with range/ovens provided at the property.
Key Highlights
- 3,235 square feet; built in 1978
- Occupied units with residents in place for more than five years
- Separate utilities; central systems on Franklin Avenue and window units on Wisteria
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,112
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,240
$582.2K
Cap Rate 7%
$415,886
$415.9K
Cap Rate 9%
$323,467
$323.5K
Market Conditions
NOI Build-Up for 3,235 SF
Gross rent
$58.2K $18.00/SF
− Vacancy
−$5.3K −$1.64/SF
EGI
$52.9K $16.36/SF
− OpEx
−$23.8K −$7.36/SF
NOI
$29.1K $9.00/SF
Area
ZIP 70122
Vacancy
9.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,240
Cap Rate 7%
$415,886
Cap Rate 9%
$323,467
Alternative Uses
Best Use
Apartment 5plus
$415.9K
$363.9K – $485.2K
NOI $29,112 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$846.5K
$740.7K – $987.6K
NOI $59,255 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in New Orleans, LA
Properties on Market for Multifamily properties in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Separate utilities serve the units, with central systems at Franklin and window units at Wisteria.
Where is this multifamily property located?
The property is located at 4200-02 Franklin Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 3,235 square feet; built in 1978; Occupied units with residents in place for more than five years; Separate utilities; central systems on Franklin Avenue and window units on Wisteria
