Renovated 4-Unit
7923-29 FORSHEY Street New Orleans, LA 70125
7923-29 FORSHEY Street, New Orleans, LA, 70125
$399,000
For Sale
$399,000
MULTI_FAMILY - New Orleans, LA
Property Size2,136 SF
Price / SF$186.80
Days on Market47
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 Agency
Century 21 J. Carter & Company
(504) 810-2825
3540 S I-10 Service Rd W, Metairie, LA
Listed by
Spencer Rossie · License #995717650
(504) 810-2825
Added: Jun 1 Checked: Jul 17 at 5:06 am
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.
Investment Insights
Based on property information with market context.
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.
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.
Key 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
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
NOI $27,047 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$355.2K
$310.8K – $414.4K
NOI $24,861 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$542.9K
$475.0K – $633.4K
NOI $38,003 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
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
