Craftsman Quadplex with Historic
For Sale
$599,000
Pending
846 ROOSEVELT Place, New Orleans, LA 70119
Multi-Family, Craftsman, New Orleans, LA
Property Size3,306 SF
Days on Market48
Property Features for 846 ROOSEVELT Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Balcony, Porch
Lot features
Regular
Subdivision
Parkview
Standard status
Pending
APN
207206004
Size
3,306 SF
Taxes and HOA fees
Tax Description
SQ 468 D PT LOT 12 LOT 10 OR 10 A ROOSEVELT PL 35 X 109
Legal Description
SQ 468 D PT LOT 12 LOT 10 OR 10 A ROOSEVELT PL 35 X 109
Utilities
Cooling system
Window Unit(s)
Water source
Public
Amenities
original wood floors
wood windows
historic mantels
millwork
coved ceilings
exposed brick
large balcony
fenced backyard
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Roof type
Shingle
Architectural style
Craftsman
Listing Agency:
Crane Realtors
Listed By:
Aaron Dare
(504) 210-2014
Added: Sep 9
Changed: Sep 25
Last Checked: Oct 26 at 6:06AM
MLS# 2576145
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.
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Investment Insights
Based on property information with market context.
This 3,306-square-foot Craftsman quadplex was built in 1920 and retains original wood floors, wood windows, historic mantels, millwork, coved ceilings, and exposed brick. The lower residences use shotgun-style layouts with a rear independent room, a pass-through bedroom, spacious kitchens, and access to the fenced backyard. Upper residences provide independent bedrooms and share a large balcony. Exterior features also include a porch, while cooling is provided by window units. The property has a shingle roof installed in 2022 and is served by public water.
Located in Parkview, the property is within walking distance of Bayou St. John and City Park. Its four-unit configuration offers an established residential income property format and includes the potential for owner occupancy with rental income from the remaining units, as stated in the property information.
Located in Parkview, the property is within walking distance of Bayou St. John and City Park. Its four-unit configuration offers an established residential income property format and includes the potential for owner occupancy with rental income from the remaining units, as stated in the property information.
Key Highlights
- 3,306‑square‑foot quadplex on a 1920‑built Craftsman structure
- Original wood floors, windows, mantels, millwork, coved ceilings, and exposed brick
- Four residential units with distinct lower and upper layouts
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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Open Analytics
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units combine shotgun-style lower layouts, independent upper bedrooms, and access to a fenced backyard.
Where is this quadplex located?
The property is located at 846 ROOSEVELT Place 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: 3,306‑square‑foot quadplex on a 1920‑built Craftsman structure; Original wood floors, windows, mantels, millwork, coved ceilings, and exposed brick; Four residential units with distinct lower and upper layouts
