4-Unit Craftsman
For Sale
$599,000
Pending
846 ROOSEVELT Place, New Orleans, LA 70119
Multifamily, New Orleans, LA
Property Size3,306 SF
Days on Market46
Property Features for 846 ROOSEVELT Place
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 5, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 4
Patio and Porch features
Porch
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
Utilities
Natural Gas Available
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Number of units
4
Flooring type
Tile, Wood
Building materials
Wood Siding
Architectural style
Craftsman
Listing Agency:
Crane Realtors
Listed By:
Aaron Dare · License #995681183
(504) 210-2014
Added: Sep 9
Changed: Oct 23
Last Checked: Oct 24 at 4:06AM
MLS# 2576145
Copyright © 2026 ROAM MLS. 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.
Built in 1920, this 3,306-square-foot Craftsman property contains four apartments and retains original wood flooring, wood windows, historic mantels, detailed millwork, coved ceilings, and exposed brick. A replacement roof was installed in 2022. The two lower apartments have shotgun-style plans, each with a separate room at the rear, a pass-through bedroom, a large kitchen, and access to the enclosed backyard. Upstairs, each apartment has its own bedroom, and the residents share a spacious balcony.
The property is a short walk from Bayou St. John and City Park in New Orleans. Wood siding, tile and wood flooring, window-unit cooling, and porch features are also part of the property.
The property is a short walk from Bayou St. John and City Park in New Orleans. Wood siding, tile and wood flooring, window-unit cooling, and porch features are also part of the property.
Key Highlights
- Four apartments in a 3,306‑square‑foot Craftsman building dating to 1920
- Roof installed in 2022
- Lower apartments feature shotgun‑style layouts, large kitchens, and 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
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 - The four apartments combine period architectural features with distinct layouts, outdoor space, and a shared upper-level balcony.
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: Four apartments in a 3,306‑square‑foot Craftsman building dating to 1920; Roof installed in 2022; Lower apartments feature shotgun‑style layouts, large kitchens, and backyard access
