68-Unit Apartment
For Sale
Contact for pricing
Pending
4508 Papania Dr, New Orleans, LA 70127
One- and two-bedroom residences with original finishes and room for targeted improvements.
Property SizeContact for details
Days on Market441
Property Features for 4508 Papania Dr
General Information
Standard status
Pending
Class
C
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Building Details
Year Built
1968
Units
68
Listing Agency:
SVN | OAK Realty Advisors
Listed By:
Raymond Lord · License #OK-375739
(918) 850-1779
Source:
Crexi
Added: Jun 20, 2025
Changed: Aug 31
Last Checked: Aug 31 at 4:22AM
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 SVN | OAK Realty Advisors
Investment Insights
Based on property information with market context.
This 68-unit apartment community in New Orleans was built in 1968 and includes a mix of one- and two-bedroom residences. Original interior finishes remain in place, providing a defined starting point for targeted unit renovations and amenity improvements. Fourteen units were affected by a recent fire, with one additional unit already offline before that event.
The property is located at 4508 Papania Dr in the Read Boulevard East submarket, near key employers, shopping centers, and public transit corridors. The offering includes a pro forma DSCR of 1.14x and a capital improvement strategy centered on bringing offline units back into service and updating select interiors and amenities.
The property is located at 4508 Papania Dr in the Read Boulevard East submarket, near key employers, shopping centers, and public transit corridors. The offering includes a pro forma DSCR of 1.14x and a capital improvement strategy centered on bringing offline units back into service and updating select interiors and amenities.
Key Highlights
- 68‑unit apartment community built in 1968
- Mix of one- and two‑bedroom residences
- Fourteen units affected by a recent fire, plus one previously offline unit
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Explore this area
Business Placement
Demographics for 70127, LA
24,332
Population
10,719
Households
2.3
Avg Household Size
35
Median Age
25%
College-Educated
86%
High-School Grad
5.5 sq mi
ZIP Area
4,424
Density / Sq Mi
$41,548
Median Household Income
$30,817
Median Earnings
$1,060
Median Rent
$191,200
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?
Apartment building - One- and two-bedroom residences with original finishes and room for targeted improvements.
Where is this apartment building located?
The property is located at 4508 Papania Dr New Orleans, LA.
What are key features of this property?
This property features: 68‑unit apartment community built in 1968; Mix of one- and two‑bedroom residences; Fourteen units affected by a recent fire, plus one previously offline unit
