Duplex with Outdoor
For Sale
$699,000
4674 FRANKLIN Avenue, New Orleans, LA 70122
Multifamily, New Orleans, LA
Property Size3,480 SF
Lot Size0.29 Acres
Price / SF$200.86
Days on Market24
Property Features for 4674 FRANKLIN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2
Parking
3
Patio and Porch features
Porch
Exterior features
Outdoor Kitchen
Subdivision
Gentilly Terrace
Lot features
Corner Lot
Standard status
Active
APN
38W402307
Size
3,480 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
GENTILLY TERRACE SQ 21 LOTS 21 THRU 24 FRANKLIN AVE AND CARNOT ST 100 X 128 4674-76 FRANKLIN AVE
Legal Description
GENTILLY TERRACE SQ 21 LOTS 21 THRU 24 FRANKLIN AVE AND CARNOT ST 100 X 128 4674-76 FRANKLIN AVE
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating)
Cooling system
Central Air, Ductless, Wall Unit(s)
Water source
Public
Amenities
fireplace
sunroom
covered patio
outdoor kitchen
workshop
Building Details
Year built
1940
Number of units
2
Building materials
HardiPlank Type, Stucco
Additional Structures
Outdoor Kitchen
Listing Agency:
Crane Realtors
Listed By:
Aaron Dare · License #995681183
(504) 210-2014
Added: Sep 30
Changed: Oct 23
Last Checked: Oct 23 at 12:06PM
MLS# 2579161
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,480-square-foot duplex pairs an upstairs main residence with a furnished ground-floor apartment offering three bedrooms and one full bathroom. The main living areas feature long leaf pine floors, 10-foot ceilings, French doors, and custom millwork. The kitchen has limestone counters, custom cabinetry, and stainless steel appliances. A 446-square-foot workshop and a 572-square-foot, two-car garage provide additional enclosed space. Central HVAC serves both floors, with mini-split systems in select areas.
The property occupies a 100' x 128' double corner lot in New Orleans. Outdoor features include landscaped gardens, a covered kitchen with commercial sinks and a DCS range, a covered patio, and a gated breezeway/carport with a parking pad. The home was built in 1940 and is in an X flood zone.
The property occupies a 100' x 128' double corner lot in New Orleans. Outdoor features include landscaped gardens, a covered kitchen with commercial sinks and a DCS range, a covered patio, and a gated breezeway/carport with a parking pad. The home was built in 1940 and is in an X flood zone.
Key Highlights
- Duplex with furnished ground‑floor apartment featuring three bedrooms and one full bathroom
- 3,480 square feet on a 100' x 128' double corner lot
- 446‑square‑foot workshop and 572‑square‑foot, two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,054
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$721,080
$721.1K
Cap Rate 7%
$515,057
$515.1K
Cap Rate 9%
$400,600
$400.6K
Market Conditions
NOI Build-Up for 3,480 SF
Gross rent
$56.4K $16.20/SF
− Vacancy
−$4.9K −$1.40/SF
EGI
$51.5K $14.80/SF
− OpEx
−$15.5K −$4.44/SF
NOI
$36.1K $10.36/SF
Area
ZIP 70122
Vacancy
8.64%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$721,080
Cap Rate 7%
$515,057
Cap Rate 9%
$400,600
Alternative Uses
Best Use
Multifamily LT 5
$515.1K
$450.7K – $600.9K
NOI $36,054 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$447.4K
$391.5K – $522.0K
NOI $31,317 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$910.6K
$796.8K – $1.06M
NOI $63,742 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
627
Businesses Nearby
Explore this area
Business Placement
Demographics for 70122, LA
34,986
Population
17,131
Households
2
Avg Household Size
39
Median Age
37%
College-Educated
89%
High-School Grad
6.3 sq mi
ZIP Area
5,553
Density / Sq Mi
$47,613
Median Household Income
$38,248
Median Earnings
$1,196
Median Rent
$274,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - A separate three-bedroom apartment, workshop, garage, and landscaped outdoor areas complement the main residence.
Where is this duplex located?
The property is located at 4674 FRANKLIN Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Duplex with furnished ground‑floor apartment featuring three bedrooms and one full bathroom; 3,480 square feet on a 100' x 128' double corner lot; 446‑square‑foot workshop and 572‑square‑foot, two‑car garage
