Renovated Elevated
For Sale
$499,000
421 South Lopez Street, New Orleans, LA 70119
Fully tenant-occupied fourplex featuring post-Katrina renovations and an oversized garage with sliding front door.
Property Size3,875 SF
Price / SF$128.77
Days on Market280
Property Features for 421 South Lopez Street
General Information
Standard status
Active
Size
3,875 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
4
Building Details
Year Built
2006
Tenancy
Multi
Listing Agency:
Satsuma Real Estate LLC
(504) 621-5400
Listed By:
Joshua Fogarty · License #995700768
(504) 621-5400
Source:
Compass
Added: Oct 26, 2025
Changed: Jul 22
Last Checked: Jul 22 at 11:08PM
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 Satsuma Real Estate LLC
Investment Insights
Based on property information with market context.
This fully tenant-occupied fourplex was renovated after Hurricane Katrina and elevated above grade. The property has been redesigned with efficient, well-laid-out floor plans that have a consistent track record of renting quickly. An oversized garage provides owner use and additional storage, with a sliding front garage door.
The building is located on a desirable Mid-City block. Total monthly rental income is $4,300, and showings are by appointment with the listing agent since all units are currently occupied.
The four units are configured within an elevated four-plex structure and supported by the attached oversized garage for storage and owner use.
The building is located on a desirable Mid-City block. Total monthly rental income is $4,300, and showings are by appointment with the listing agent since all units are currently occupied.
The four units are configured within an elevated four-plex structure and supported by the attached oversized garage for storage and owner use.
Key Highlights
- Fully tenant‑occupied 4‑plex with total monthly rental income of $4,300
- Post‑Katrina renovations; elevated above grade with efficient, well‑laid‑out floor plans
- 4 bedrooms and 5 total bathrooms across the property (4 full, 1 partial)
Financial Insights For Apartment 5plus
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 | $90.2k | $23.28 |
| − Vacancy | −$8.2k | −$2.12 |
| EGI | $82.0k | $21.16 |
| − OpEx | −$36.9k | −$9.52 |
| NOI | $45.1k | $11.64 |
3,875 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$701.0K
$613.3K – $817.8K
NOI $49,067 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$644.3K
$563.8K – $751.7K
NOI $45,100 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$1.01M
$887.2K – $1.18M
NOI $70,978 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,348
Businesses Nearby
Explore this area
Business Placement
Demographics for 70119, LA
38,048
Population
21,595
Households
1.8
Avg Household Size
37
Median Age
47%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
8,455
Density / Sq Mi
$50,854
Median Household Income
$44,278
Median Earnings
$1,298
Median Rent
$359,300
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 - Fully tenant-occupied fourplex featuring post-Katrina renovations and an oversized garage with sliding front door.
Where is this quadplex located?
The property is located at 421 South Lopez Street New Orleans, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Fully tenant‑occupied 4‑plex with total monthly rental income of $4,300; Post‑Katrina renovations; elevated above grade with efficient, well‑laid‑out floor plans; 4 bedrooms and 5 total bathrooms across the property (4 full, 1 partial)
