New Orleans Multifamily Investment
For Sale
$590,000
4318 ANNUNCIATION Street, New Orleans, LA 70115
MULTI_FAMILY - New Orleans, LA
Property Size3,068 SF
Lot Size0.10 Acres
Price / SF$192.31
Days on Market349
Property Features for 4318 ANNUNCIATION Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Lot features
Regular
Subdivision
Irish Channel
Standard status
Active
APN
614103612
Size
3,068 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
SQ 115 LOT 4 ANNUNCIATION 36X117 4318-20 ANNUNCIATION 36X117 4318-20 ANNUNCIATION 4-PLEX & 2 APTS IN REAR SQ 115 LOT 4 ANNUNCIATION FILE #83467 10/92 PART
Legal Description
SQ 115 LOT 4 ANNUNCIATION 36X117 4318-20 ANNUNCIATION 36X117 4318-20 ANNUNCIATION 4-PLEX & 2 APTS IN REAR SQ 115 LOT 4 ANNUNCIATION FILE #83467 10/92 PART
Utilities
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
6
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
eXp Realty, LLC
(337) 522-7554
Listed By:
Natashia Kennison
(337) 522-7554
Added: Aug 16, 2025
Changed: Jul 30
Last Checked: Jul 30 at 9:06PM
MLS# 2517222
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located steps away from Tipitina's, Rouses, and Magazine Street eateries and boutiques, this six-unit property presents a unique opportunity for buyers and investors looking to expand their portfolio. The property includes a 4-plex in the front and a 2-unit building in the rear. The complex features a large backyard, serving as a great outdoor common area. This centrally located, turn-key complex is on the parade route and convenient to the CBD and Tulane, Loyola, and Xavier Universities. The charm of the New Orleans historic shotgun can definitely be felt in the units. The property is situated on a lot of 0.0967 acres and has a property size of 3068 square feet.
Key Highlights
- Six‑unit property built in 1920 with a 4‑plex in the front and 2‑unit building in the rear
- Historic New Orleans shotgun‑style units
- Large backyard that can serve as an outdoor common area
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 | $46.8k | $15.24 |
| − Vacancy | −$4.3k | −$1.39 |
| EGI | $42.5k | $13.85 |
| − OpEx | −$19.1k | −$6.23 |
| NOI | $23.4k | $7.62 |
3,068 SF · lease $15.24/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$333.9K
$292.2K – $389.6K
NOI $23,376 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.4K
$708.3K – $944.3K
NOI $56,660 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,926
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit complex near Magazine Street, parade route, and universities.
Where is this apartment building located?
The property is located at 4318 ANNUNCIATION Street New Orleans, LA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Six‑unit property built in 1920 with a 4‑plex in the front and 2‑unit building in the rear; Historic New Orleans shotgun‑style units; Large backyard that can serve as an outdoor common area
