4,580 SqFt
4,580 SqFt
Key Details
Property Type Other Types
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 4,580 sqft
Price per Sqft $152
MLS Listing ID 2554072
HOA Y/N No
Year Built 1975
Annual Tax Amount $3,479
Acres 0.16
Lot Dimensions 50x135
Property Sub-Type Commercial
Source ROAM MLS
Land Area 4580
Property Description
Current cap rate: 8.50% ($59,391 NOI)
Pro forma cap rate: 10.69% ($74,691 NOI)
INVESTMENT OPPORTUNITY IN METAIRIE! Great 6-plex in a wonderful location. Six units: five 2 bed/1 bath and one 1 bed/1 bath, currently the manager's unit. Currently UNDER RENTED at $6,125/month with room to grow (pro forma rent $7,400/month). Tenants pay electric; owner pays water (approx. $500/month). Coin-operated washers and dryers on site at rear of building ($350/month income). Each unit has an assigned parking lane holding 2 cars. All underground plumbing replaced a few years ago. Easy access to the interstate, Veterans Hwy, bus stops, restaurants, and groceries.
Property tax $3,251 / Flood insurance $2,038 / Property insurance $5,928 / Liability $1,092. Current gross income: $6,475/month, $77,700/year including laundry. 8.50% cap rate. Pro forma gross income: $7,750/month, $93,000/year including laundry. 10.69% pro forma cap rate.
Buyer's agent and buyer to due their own due diligence.
Location
State LA
County Jefferson
Area 0.16
Zoning R3
Direction off Veterans between Sanford St and Rye St
Interior
Cooling Ceiling Fan(s), Central Air, Multi Units
Flooring Ceramic Tile
Fireplace No
Exterior
Parking Features Assigned, Off Street
Utilities Available Electricity Connected, Electricity Individual Meter, None, Sewer Connected, Water Connected
Roof Type Shingle
Garage No
Building
Lot Description Other
Water Public
New Construction No
Others
Tax ID 0-82-0030953
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Virtual Tour https://www.propertypanorama.com/instaview/roam/2554072
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