Renovated Four-Unit
For Sale
$1,200,000
824/26 ELYSIAN FIELDS Avenue, New Orleans, LA 70117
Updated interiors and a built-in pool add practical appeal to this residential income property.
Property Size4,512 SF
Days on Market23
Property Features for 824/26 ELYSIAN FIELDS Avenue
General Information
Standard status
Active
Size
4,512 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Amenities
pool
Building Details
Building Size
4,512 SF
Year Built
1902
Buildings
1
Listing Agency:
Ethel Kidd Real Estate, L.L.C.
(504) 524-6809
Listed By:
Dawn Leslie · License #995702027
Source:
Burkbrokerage
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 9:19PM
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 Ethel Kidd Real Estate, L.L.C.
Investment Insights
Based on property information with market context.
This four-unit quadplex was built in 1902 and has been renovated for continued residential use. Each unit includes two bedrooms and two bathrooms, with updated interiors throughout the property. A built-in pool serves as a shared backyard amenity.
Located on Elysian Fields Avenue in New Orleans, the property is positioned near the French Quarter, riverfront, and downtown. The address is 824/26 Elysian Fields Avenue, New Orleans, LA 70117.
Located on Elysian Fields Avenue in New Orleans, the property is positioned near the French Quarter, riverfront, and downtown. The address is 824/26 Elysian Fields Avenue, New Orleans, LA 70117.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 2‑bath units
- Renovated interiors throughout
- Built‑in pool in the backyard
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
$57,133
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
4.76%
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%
$1,142,660
$1.1M
Cap Rate 7%
$816,186
$816.2K
Cap Rate 9%
$634,811
$634.8K
Market Conditions
NOI Build-Up for 4,512 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
$89.3K $19.80/SF
− Vacancy
−$7.7K −$1.71/SF
EGI
$81.6K $18.09/SF
− OpEx
−$24.5K −$5.43/SF
NOI
$57.1K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /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%
$1,142,660
Cap Rate 7%
$816,186
Cap Rate 9%
$634,811
Alternative Uses
Best Use
Multifamily LT 5
$816.2K
$714.2K – $952.2K
NOI $57,133 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$750.2K
$656.4K – $875.2K
NOI $52,514 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,276 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,975
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
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 - Updated interiors and a built-in pool add practical appeal to this residential income property.
Where is this quadplex located?
The property is located at 824/26 ELYSIAN FIELDS Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit quadplex with four 2‑bedroom, 2‑bath units; Renovated interiors throughout; Built‑in pool in the backyard
