Quadplex with Updated
New
For Sale
$619,000
709-711 General Pershing St, New Orleans, LA 70115
Four matching apartments offer spacious bedrooms, wood flooring, and shared laundry and storage facilities.
Property Size3,991 SF
Price / SF$155.10
Days on Market5
Property Features for 709-711 General Pershing St
General Information
Standard status
Active
Size
3,991 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
on-site laundry
storage
Building Details
Year Built
1940
Year Renovated
2010
Buildings
1
Construction
stucco
Listing Agency:
Realty One Group Immobilia
(504) 455-0100
Listed By:
Debra Scott · License #11385
Source:
Dominionplace
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 7:27PM
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 Realty One Group Immobilia
Investment Insights
Based on property information with market context.
This 1940 quadplex contains four matching apartments, each approximately 1000 sq ft with separate bedrooms and wood floors throughout. The 3,991-square-foot property includes stucco and concrete construction, replacement windows, updated electrical and plumbing, and kitchens and bathrooms renovated in 2010. Each residence is equipped with several combination heat/AC units.
A rear shed provides additional storage along with two laundry rooms designated for tenant use. The property is located at 709-711 General Pershing St in New Orleans, Louisiana.
A rear shed provides additional storage along with two laundry rooms designated for tenant use. The property is located at 709-711 General Pershing St in New Orleans, Louisiana.
Key Highlights
- Four identical apartments, each approximately 1000 sq ft
- 3,991‑square‑foot quadplex built in 1940
- Separate bedrooms and wood floors throughout each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,303
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$686,060
$686.1K
Cap Rate 7%
$490,043
$490.0K
Cap Rate 9%
$381,144
$381.1K
Market Conditions
NOI Build-Up for 3,991 SF
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.
Gross rent
$53.6K $13.44/SF
− Vacancy
−$4.6K −$1.16/SF
EGI
$49.0K $12.28/SF
− OpEx
−$14.7K −$3.68/SF
NOI
$34.3K $8.60/SF
Area
ZIP 70115
Vacancy
8.64%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$686,060
Cap Rate 7%
$490,043
Cap Rate 9%
$381,144
Alternative Uses
Best Use
Multifamily LT 5
$490.0K
$428.8K – $571.7K
NOI $34,303 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$434.4K
$380.1K – $506.8K
NOI $30,408 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$1.05M
$921.3K – $1.23M
NOI $73,706 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 70115, LA
31,736
Population
18,134
Households
1.8
Avg Household Size
38
Median Age
64%
College-Educated
95%
High-School Grad
3.8 sq mi
ZIP Area
8,352
Density / Sq Mi
$94,181
Median Household Income
$57,242
Median Earnings
$1,442
Median Rent
$616,600
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?
Quadplex - Four matching apartments offer spacious bedrooms, wood flooring, and shared laundry and storage facilities.
Where is this quadplex located?
The property is located at 709-711 General Pershing St New Orleans, LA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Four identical apartments, each approximately 1000 sq ft; 3,991‑square‑foot quadplex built in 1940; Separate bedrooms and wood floors throughout each apartment
