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    Renovated 4-Unit Multifamily Title is generated by Realmo AI

    7923-29 FORSHEY Street, New Orleans, LA 70125

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    Claim this Listing
    For Sale
    $399,000

    MULTI_FAMILY - New Orleans, LA

    Property size:
    2,136 SF
    Price / SF:
    $186/SF
    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

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    Contact an agent
    Spencer Rossie
    Spencer Rossie

    Listing agent Spencer Rossie License #995717650

    Listing office Century 21 J. Carter & Company 3540 S I-10 Service Rd W, Metairie, LA

    Listing date Jun 1, 2026

    MLS# 2560696 Listing URL

    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

    This renovated 4-unit multifamily property offers each unit with its own meter and washer/dryer hookups. The building is fully occupied, supporting current monthly rental income of $4,800.

    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
    2,136 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $386.4K
    $338.1K – $450.8K (±1% cap)
    NOI $27,047 @ 7.0% cap · market cap 6.78%
    Second Best
    Apartment 5plus
    $355.2K
    $310.8K – $414.4K (±1% cap)
    NOI $24,861 @ 7.0% cap · market cap 6.23%
    Theoretical Best
    Office A
    $542.9K
    $475.0K – $633.4K (±1% cap)
    NOI $38,003 @ 7.0% cap · market cap 9.52%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Spa & Massage Center Nail Salon HVAC Service Dental Office Accounting Firm (Bike/Boat/Book/etc) Store Computer & Electronic Repair Nursing Home Home Appliance Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Jefferson
    State
    Louisiana
    Longitude
    -90.112358
    Latitude
    29.961588

    FAQs

    What type of property is this?
    Quadplex - Renovated 4-unit with individual meters and in-unit washer/dryer in Flood Zone X.
    Where is this quadplex located?
    The property is located at 7923-29 FORSHEY Street New Orleans, LA.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: 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
    More about this property
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