Updated 4-Unit Apartment
New
For Sale
$785,000
7026 S Claiborne Ave, New Orleans, LA 70125
Four apartments feature renovated kitchens and bathrooms alongside architectural details including arched openings and wood floors.
Property Size4,146 SF
Price / SF$189.34
Days on Market4
Property Features for 7026 S Claiborne Ave
General Information
Standard status
Active
Size
4,146 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$93,720
Multifamily Units
4
Amenities
off-street parking
on-site laundry
fenced yard
patio
covered porches
sunrooms
Building Details
Year Built
1930
Year Renovated
2022
Buildings
1
Construction
Spanish Colonial Revival
Listing Agency:
Homesmart Realty South
Listed By:
Robyn Schmitt · License #995687935
(504) 236-1144
Source:
Dominionplace
Added: Oct 4
Last Checked: Oct 5 at 10:44PM
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 Homesmart Realty South
Investment Insights
Based on property information with market context.
This 1930 Spanish Colonial Revival property contains four apartments across 4,146 square feet. Each residence received interior updates in 2022, including kitchens with quartz counters and backsplashes, white cabinetry, breakfast-bar seating, and stainless-steel appliances. Bathrooms were also renovated that year. Interior details include wood floors, crown molding, and archways; two upper-floor apartments have sunrooms, while ground-floor units have covered front porches. A new roof and water heaters were installed in 2022, and the building was painted inside and out. The exterior AC units are dated August 2024, January 2022, March 2016, and August 2014.
At 7026 S Claiborne Ave in Uptown New Orleans, the property has a concrete driveway for tandem parking, a fenced rear yard with a concrete patio, and a ground-floor laundry and storage room with two washers and two dryers. Three apartments pay their own utilities; the fourth has a $350 utility cap included in the rent. The sale is contingent on the buyer assuming all leases.
At 7026 S Claiborne Ave in Uptown New Orleans, the property has a concrete driveway for tandem parking, a fenced rear yard with a concrete patio, and a ground-floor laundry and storage room with two washers and two dryers. Three apartments pay their own utilities; the fourth has a $350 utility cap included in the rent. The sale is contingent on the buyer assuming all leases.
Key Highlights
- Four apartments totaling 4,146 square feet
- 1930 Spanish Colonial Revival property in Uptown New Orleans
- 2022 interior updates across all four apartments; bathrooms renovated the same year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,499
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,049,980
$1.0M
Cap Rate 7%
$749,986
$750.0K
Cap Rate 9%
$583,322
$583.3K
Market Conditions
NOI Build-Up for 4,146 SF
Gross rent
$82.1K $19.80/SF
− Vacancy
−$7.1K −$1.71/SF
EGI
$75.0K $18.09/SF
− OpEx
−$22.5K −$5.43/SF
NOI
$52.5K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,049,980
Cap Rate 7%
$749,986
Cap Rate 9%
$583,322
Alternative Uses
Best Use
Multifamily LT 5
$750.0K
$656.2K – $875.0K
NOI $52,499 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$689.4K
$603.2K – $804.3K
NOI $48,255 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$1.05M
$922.1K – $1.23M
NOI $73,764 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
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Business Placement
Demographics for 70125, LA
17,457
Population
7,972
Households
2.2
Avg Household Size
33
Median Age
46%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
7,590
Density / Sq Mi
$58,956
Median Household Income
$39,623
Median Earnings
$1,292
Median Rent
$428,600
Median Home Value
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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?
Quadplex - Four apartments feature renovated kitchens and bathrooms alongside architectural details including arched openings and wood floors.
Where is this quadplex located?
The property is located at 7026 S Claiborne Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Four apartments totaling 4,146 square feet; 1930 Spanish Colonial Revival property in Uptown New Orleans; 2022 interior updates across all four apartments; bathrooms renovated the same year
