Building Details

Year Built 1920

Construction craftsman

Listing Agency: Crane Realtors

Listed By: Aaron Dare · License #995681183 Show Phone

Source: Fiorellaavenue

Added: Sep 24 Changed: Oct 3 Last Checked: Oct 4 at 2:43PM

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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 Crane Realtors

Investment Insights

Based on property information with market context.

This 1920-built quadplex contains 3,306 square feet and retains original wood floors, wood windows, historic mantels, detailed millwork, coved ceilings, and exposed brick. The two lower residences have shotgun-style layouts, large kitchens, and access to a fenced backyard. Each includes a separate room at the rear and a pass-through bedroom. The upper residences have independent bedrooms and share a large balcony.

The property is in Parkview, within walking distance of Bayou St. John and City Park. Its four-unit configuration combines distinct floor plans with preserved architectural features.

Key Highlights

• Four‑unit property with 3,306 square feet
• Original wood floors, wood windows, historic mantels, millwork, coved ceilings, and exposed brick
• Lower units feature shotgun‑style layouts, large kitchens, and fenced backyard access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,862

Cap Rate

6.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$837,240 $837.2K

Cap Rate 7%

$598,029 $598.0K

Cap Rate 9%

$465,133 $465.1K

Market Conditions

NOI Build-Up for 3,306 SF

Gross rent

$65.5K $19.80/SF

− Vacancy

−$5.7K −$1.71/SF

EGI

$59.8K $18.09/SF

− OpEx

−$17.9K −$5.43/SF

NOI

$41.9K $12.66/SF

Area

ZIP 70119

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 Rate 5%

$837,240

Cap Rate 7%

$598,029

Cap Rate 9%

$465,133

Alternative Uses

Best Use

Multifamily LT 5

$598.0K

$523.3K – $697.7K (±1% cap)

NOI $41,862 @ 7.0% cap · market cap 6.99%

Second Best

Apartment 5plus

$549.7K

$481.0K – $641.3K (±1% cap)

NOI $38,478 @ 7.0% cap · market cap 6.42%

Theoretical Best

Office A

$865.1K

$756.9K – $1.01M (±1% cap)

NOI $60,555 @ 7.0% cap · market cap 10.11%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Locksmith Electrical Service Carpet & Flooring Store Butcher

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

1,857

Businesses Nearby

Explore this area Business Placement

Demographics for 70119, LA

38,048

Population

21,595

Households

1.8

Avg Household Size

37

Median Age

47%

College-Educated

89%

High-School Grad

4.5 sq mi

ZIP Area

8,455

Density / Sq Mi

$50,854

Median Household Income

$44,278

Median Earnings

$1,298

Median Rent

$359,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - A mix of shotgun-style lower residences and upper units with independent bedrooms creates varied layouts.

Where is this quadplex located?

The property is located at 846 48 Roosevelt Pl New Orleans, LA.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: Four‑unit property with 3,306 square feet; Original wood floors, wood windows, historic mantels, millwork, coved ceilings, and exposed brick; Lower units feature shotgun‑style layouts, large kitchens, and fenced backyard access