Solid Fourplex With Stucco
For Sale
$619,000
709-711 GENERAL PERSHING Street, New Orleans, LA 70115
MULTI_FAMILY - New Orleans, LA
Property Size3,991 SF
Price / SF$155.10
Days on Market165
Property Features for 709-711 GENERAL PERSHING Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Exterior features
Window Screens
Lot features
Regular
Subdivision
East Riverside
Standard status
Active
APN
Sq 172
Size
3,991 SF
Taxes and HOA fees
Tax Description
Sq 172, Lot Y, HU-RD 2
Legal Description
Sq 172, Lot Y, HU-RD 2
Utilities
Cooling system
Window Unit(s)
Water source
Public
Amenities
storage shed
laundry rooms
Building Details
Year built
1940
Floors in Building
2
Number of units
4
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty One Group Immobilia
(504) 405-3211
Listed By:
Debra Scott · License #11385
(504) 723-6804
Added: Mar 20
Changed: Aug 3
Last Checked: Aug 31 at 1:06AM
MLS# 2547893
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Solid fourplex at 709-711 General Pershing Street, built in 1940 and family-owned for 80+ years. The property offers four identical apartments with large separate bedrooms and wood floors throughout. Windows have been replaced, and electrical and plumbing have been updated. Kitchens and baths were rehabbed in 2010. The exterior features stucco with concrete walls and no siding, supporting a low-maintenance approach. Cooling is provided by window unit(s), and each apartment includes several combo heat/AC units.
Each apartment is approximately 1000 SF, providing spacious layouts for tenants. A shed in the rear adds additional storage and includes two laundry rooms for tenant use.
The building also includes window screens and a shingle roof, with public water service available.
Each apartment is approximately 1000 SF, providing spacious layouts for tenants. A shed in the rear adds additional storage and includes two laundry rooms for tenant use.
The building also includes window screens and a shingle roof, with public water service available.
Key Highlights
- Four identical apartments with large separate bedrooms and wood floors throughout
- Each apartment is approximately 1000 SF
- Windows replaced, plus electrical and plumbing updated
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
Multi-tenant
Tenancy
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 - Well-maintained fourplex with wood floors, updated building systems, and rehabbed kitchens and baths.
Where is this quadplex located?
The property is located at 709-711 GENERAL PERSHING Street 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 with large separate bedrooms and wood floors throughout; Each apartment is approximately 1000 SF; Windows replaced, plus electrical and plumbing updated
