Raised Fourplex with Private
4516 Banks Street New Orleans, LA 70119
4516 Banks Street, New Orleans, LA, 70119
$545,000
For Sale
$545,000
Raised fourplex offers two upstairs and two downstairs units, each with a private entrance, plus off-street parking and courtyard.
Property Size2,732 SF
Price / SF$199.49
Days on Market333
Property Features for 4516 Banks Street
General Information
- Standard status
- Active
- Size
- 2,732 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1920
Listing agency
Crane Realtors
(504) 210-2014
Listed by
Aaron Dare · License #995681183
(504) 210-2014
Source
Compass
Added: Aug 25, 2025 Updated: Jul 22 at 3:44PM Checked: Jul 22 at 3:44PM
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 Crane Realtors
Investment Insights
Based on property information with market context.
This classic raised fourplex includes two units upstairs and two units downstairs, with each unit featuring its own private entrance. Interior character includes high ceilings, transom windows, and period millwork, complemented by modern updates. The upstairs right unit is described as spacious and filled with natural light, while the upstairs studio is positioned for flexible living space. One of the downstairs units has been fully renovated with updated finishes and an efficient layout.
The property is located on a quiet block in the heart of Mid-City and is presented as offering easy access to City Park and the Canal Street streetcar, with nearby restaurants, shops, and entertainment.
Additional amenities include off-street parking, garage access, and shared courtyard space.
The property is located on a quiet block in the heart of Mid-City and is presented as offering easy access to City Park and the Canal Street streetcar, with nearby restaurants, shops, and entertainment.
Additional amenities include off-street parking, garage access, and shared courtyard space.
Key Highlights
- Raised 4‑plex with 2 units upstairs and 2 units downstairs, each with its own private entrance
- 5 bedrooms and 4 full bathrooms across the four units
- Period features include high ceilings, transom windows, and original millwork
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 | $54.1k | $19.80 |
| − Vacancy | −$4.7k | −$1.71 |
| EGI | $49.4k | $18.09 |
| − OpEx | −$14.8k | −$5.43 |
| NOI | $34.6k | $12.66 |
2,732 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$494.2K
$432.4K – $576.6K
NOI $34,594 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$454.2K
$397.5K – $530.0K
NOI $31,797 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$714.9K
$625.5K – $834.0K
NOI $50,041 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Kim Carson
Theater & Performing Art Venue
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Raised fourplex offers two upstairs and two downstairs units, each with a private entrance, plus off-street parking and courtyard.
Where is this quadplex located?
The property is located at 4516 Banks Street New Orleans, LA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Raised 4‑plex with 2 units upstairs and 2 units downstairs, each with its own private entrance; 5 bedrooms and 4 full bathrooms across the four units; Period features include high ceilings, transom windows, and original millwork
