Leased Triplex with Off-Street
New
For Sale
$575,000
4320 Pitt St, New Orleans, LA 70115
Three residences feature in-unit laundry and central air and heat.
Property Size2,531 SF
Price / SF$227.18
Days on Market4
Property Features for 4320 Pitt St
General Information
Standard status
Active
Size
2,531 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$48,000
Multifamily Units
3
Amenities
in-unit washer/dryer
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Compass Uptown
(504) 866-2785
Listed By:
Mary Dodart · License #000045156
(504) 451-0863
Source:
Exprealty
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 2:44PM
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 Uptown
Investment Insights
Based on property information with market context.
This 2,531-square-foot triplex contains three leased residences with spacious rooms, wood floors, and large windows. Each unit has gas cooking, a range and oven, a refrigerator, central air and heat, and an in-unit washer and dryer. Off-street parking accommodates two cars.
At 4320 Pitt St in New Orleans, the property is one block from the intersection of St. Charles Avenue and Napoleon Avenue. The three units are occupied by long-term tenants.
At 4320 Pitt St in New Orleans, the property is one block from the intersection of St. Charles Avenue and Napoleon Avenue. The three units are occupied by long-term tenants.
Key Highlights
- 2,531‑square‑foot triplex with three leased units
- Long‑term tenants occupy all three residences
- Off‑street parking for two cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,754
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$435,080
$435.1K
Cap Rate 7%
$310,771
$310.8K
Cap Rate 9%
$241,711
$241.7K
Market Conditions
NOI Build-Up for 2,531 SF
Gross rent
$34.0K $13.44/SF
− Vacancy
−$2.9K −$1.16/SF
EGI
$31.1K $12.28/SF
− OpEx
−$9.3K −$3.68/SF
NOI
$21.8K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$435,080
Cap Rate 7%
$310,771
Cap Rate 9%
$241,711
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$271.9K – $362.6K
NOI $21,754 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$275.5K
$241.1K – $321.4K
NOI $19,284 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$667.8K
$584.3K – $779.1K
NOI $46,743 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,841
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences feature in-unit laundry and central air and heat.
Where is this triplex located?
The property is located at 4320 Pitt St New Orleans, LA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,531‑square‑foot triplex with three leased units; Long‑term tenants occupy all three residences; Off‑street parking for two cars
