Augmented experience through iPad made with UE4?

Is UE4 capable of building a Augmented experience. For example I want to look at my lounge room through my ipad and see A character tracked to the coffee table. This would require capturing my lounge rooms Geo (via iPad? not pre built) then locking its coordinates to the position of the iPad.
So its not an immersive (oculus) experience, just using the ipad/smartphone to view the augmentation.

Does UE4 have the functionality for a app like this to be built?

This would be dependent on the developers of the AR programs(i.e. Vuforia, String) to integrate them into UE4.

Do you mean that in order to build a AR experience you need a 3rd party piece of software. So for example I couldnt just build it with UE4 I would need UE4 and String to get the job done? and currently String doesnt support UE4?

I think this kind of app is much easier to build in Unity. Correct? Is it because Unity has this capability built in?

I do a lot of AR and I use unity for it. I would love to use Unreal but as far as I know, There aren’t any options for it yet. In unity you still need to use third party plug-ins. But they at least exist for it.