Corner-Lot Duplex
4502-04 Pitt Street New Orleans, LA 70115
4502-04 Pitt Street, New Orleans, LA, 70115
$515,000
For Sale
$515,000
Duplex with in-unit laundry and front porches, featuring a 3-bedroom/2-bath and a 2-bedroom/1-bath unit.
Property Size2,370 SF
Price / SF$217.30
Days on Market93
Property Features for 4502-04 Pitt Street
General Information
- Standard status
- Active
- Size
- 2,370 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1933
Listing agency
REVE, REALTORS
(520) 861-9876
Listed by
Breck Meeks · License #995702066
(520) 861-9876
Source
Compass
Added: Apr 21 Updated: Jul 20 at 5:18PM Checked: Jul 21 at 8:23AM
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 REVE, REALTORS
Investment Insights
Based on property information with market context.
This duplex is positioned on a corner lot and designed for everyday livability with classic architectural details. Both units feature in-unit laundry and a front porch, along with original hardwood floors, arched doorways, and other historic-style finishes. The upstairs/owner’s unit offers 3 bedrooms and 2 baths, while the downstairs unit provides 2 bedrooms and 1 bath, supporting straightforward long-term rental use or flexible living arrangements. A brand new roof is scheduled for 2026.
Located in Uptown New Orleans, the property is described as being near St. Charles Avenue and positioned for walkability to Mardi Gras parade routes and the iconic streetcar line. The remarks also note close proximity to Prytania St shops and restaurants, as well as Touro and Ochsner Baptist hospitals. Audubon Park and the CBD are also described as minutes away.
The layout balances two separate residential units with distinct bedroom and bath counts, making it well-suited for an owner-occupant or investor seeking dependable income-producing residential space.
Located in Uptown New Orleans, the property is described as being near St. Charles Avenue and positioned for walkability to Mardi Gras parade routes and the iconic streetcar line. The remarks also note close proximity to Prytania St shops and restaurants, as well as Touro and Ochsner Baptist hospitals. Audubon Park and the CBD are also described as minutes away.
The layout balances two separate residential units with distinct bedroom and bath counts, making it well-suited for an owner-occupant or investor seeking dependable income-producing residential space.
Key Highlights
- Duplex built in 1933 with 2 stories, featuring a 3‑bedroom/2‑bath unit and a 2‑bedroom/1‑bath unit
- Each unit includes in‑unit laundry and a front porch
- Corner‑lot duplex in Uptown New Orleans with 5 total bedrooms and 3 total full bathrooms
Local Financial Insights For Multifamily LT 5
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 | $31.9k | $13.44 |
| − Vacancy | −$2.8k | −$1.16 |
| EGI | $29.1k | $12.28 |
| − OpEx | −$8.7k | −$3.68 |
| NOI | $20.4k | $8.60 |
2,370 SF · lease $13.44/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$291.0K
$254.6K – $339.5K
NOI $20,371 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$258.0K
$225.7K – $301.0K
NOI $18,058 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$625.3K
$547.1K – $729.5K
NOI $43,769 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex with in-unit laundry and front porches, featuring a 3-bedroom/2-bath and a 2-bedroom/1-bath unit.
Where is this duplex located?
The property is located at 4502-04 Pitt Street New Orleans, LA.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Duplex built in 1933 with 2 stories, featuring a 3‑bedroom/2‑bath unit and a 2‑bedroom/1‑bath unit; Each unit includes in‑unit laundry and a front porch; Corner‑lot duplex in Uptown New Orleans with 5 total bedrooms and 3 total full bathrooms
