Craftsman 4-Unit
846 48 Roosevelt Pl, New Orleans, LA 70119
For Sale
$599,000
A mix of shotgun-style lower residences and upper units with independent bedrooms creates varied layouts.
Property Size3,306 SF
Price / SF$181.19
Days on Market52
Property Features for 846 48 Roosevelt Pl
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
balcony
fenced backyard
Building Details
Year Built
Construction
Listing Agency:
Crane Realtors
Listed By:
Aaron Dare · License LA #995681183
(504) 210-2014
Source:
Fiorellaavenue
Added: Sep 24
Changed: Nov 4
Last Checked: Nov 12 at 10:13AM
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
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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.
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
NOI $41,862 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$549.7K
$481.0K – $641.3K
NOI $38,478 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$865.1K
$756.9K – $1.01M
NOI $60,555 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,857
Businesses Nearby
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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
$359,300
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in New Orleans, LA
Properties on Market for Quadplexes in New Orleans
Vacancy Rate% for Multifamily in South region
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
