Westbank Residential - Apartments FOR SALE


Gretna, LA 70053- Westbank
$8,490,000 USD
504-681-3409
Westbank Residential, Gretna, LA for Sale
$8,490,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

Westbank Residential
Gretna, LA 70053
Westbank


HIGHLIGHTS

  • 102 units (plus 1 metal frame maintenance bldg.)
  • Priced well below replacement cost
  • Located in New Orleans MSA
  • Priced well below replacement cost
  • This portfolio can be divided by parish/county

OVERVIEW

Introducing the Westbank Residential Portfolio, a prime investment opportunity to acquire a mix of residential income producing properties consisting primarily of single family residences, duplexes, and three multi-plexes located in Gretna, Harvey and Belle Chasse, LA. This expansive portfolio of approximately 102 individual rental units (plus 1 maintenance bldg.) have been meticulously maintained and managed offering an exceptional investment potential for multifamily investors. With very little capex required and an enviable 80% Plus occupancy rate, this property presents a compelling prospect for those seeking to expand their real estate portfolio in the stable New Orleans MSA. Trailing three (3) years rent revenue have been equal to approximately $1.314M. While ownership’s preference is to sell the portfolio in its entirety, the offering is now available on a partial basis, allowing investors the opportunity to acquire either of two separate bundles: a Jefferson Parish portfolio or a Plaquemines Parish portfolio. Available Detailed Financial Information Disclosures can be made available to qualified parties who execute a Confidentiality Non-Disclosure Agreement. Don't miss the chance to capitalize on this sleeper investment opportunity.

FOR SALE DETAILS

PRICE

$8,490,000 USD

PRICE/SF

$99 USD /SF

# OF UNITS

102

PRICE/UNIT

$83,235

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

0100001556

ASK ABOUT THIS PROPERTY

David da CunhaProperty OneMore Info
504-681-3409

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David da CunhaProperty OneMore Info
504-681-3409

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.