7923-29 FORSHEY Street, New Orleans, LA 70125
- Added:
- Jun 1, 2026
- Days on Market:
- 37
- Last Refresh:
- Jul 7 at 8:06 am
Property Features for 7923-29 FORSHEY Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 7923Forshey
- Size
- 2,136 SF
Taxes and HOA fees
- Tax Description
- SQ 503 LOT 20A FORSHEY, 56 X 90, 7923-25 & 7927-29 FORSHEY
Utilities
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1940
- Floors in Building
- 1
- Number of units
- 4
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Spencer Rossie License #995717650 (504) 810-2825
Listing office Century 21 J. Carter & Company 3540 S I-10 Service Rd W, Metairie, LA (504) 810-2825
Listing date Jun 1, 2026
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.
HighLights
- Renovated 4‑unit property near Costco, about one block off Carrollton
- Each unit has its own meter plus in‑unit washer/dryer
- Fully occupied; rental income totals $4,800 per month
- Public water source
- Roof type: shingle; cooling: window unit(s)
- Located in Flood Zone X
Overview
The property is located at 7923-29 FORSHEY Street in New Orleans, near Costco and one block off Carrollton. It is identified as being in Flood Zone X.
The unit-by-unit metering and in-unit washer/dryer configuration can support tenant convenience and straightforward management for an owner-operator or investor. With all four units currently occupied, the property may appeal to buyers looking for an income-producing residential income asset with established in-place tenants.
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 | $42.3k | $19.80 |
| − Vacancy | −$3.7k | −$1.71 |
| EGI | $38.6k | $18.09 |
| − OpEx | −$11.6k | −$5.43 |
| NOI | $27.0k | $12.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- New Orleans
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.112358
- Latitude
- 29.961588