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A detached four-plex building offering strong in place cash flow and operational stability. The property consists of 4 units with two vacancies, presenting a clear lease up opportunity for a new owner. Additional revenue can be made from on site laundry.
Renovated in 2024, the property features updated electrical, plumbing, roofing and window systems, contributing to reduced maintenance and long term durability. Unit A tenant just moved out, so market rent is used in the rent roll, and the unit should be re-leased in the upcoming weeks. Each unit is individually metered for electricity. The gross building area is approximately 4,258 sf with 4 off street parking spaces, in a favorable Flood Zone X.
A purchaser can acquire a stabilized asset and continue to raise rents to market, improving the cap rate to 10% plus. This building can be purchased as a package with 913 and 929 W Monterey Ct (MLS #2571199 and MLS #2571151), or together as MLS #2571072.
Contact the listing team for showings, rent details and financing questions.
Contact the AgentsCall Bryce| Unit | Beds | Baths | Monthly Rent |
|---|---|---|---|
| Unit D | 4 | 2.5 | $1,240 |
| Unit C | 3 | 2.5 | $1,295 |
| Unit B | 3 | 2 | $1,300 |
| Unit A | 3 | 2 | $1,295 |
Rents are per the MLS. Unit A is carried at market rent.
Rents are as reported in the MLS. Where units are vacant, market rent may be carried in the figures. Buyers should verify all income and expense information.
Bridgewater Realty Advisors, LLC | 3501 Severn Ave, Suite 19, Metairie, LA 70002 | (504) 901-0463
Bridgewater Realty Advisors is a privately held firm founded on the premise of providing superior client representation in the lease and sale of commercial real estate. Licensed in LA & MS.