2509 Houma BlvdMetairie, LA 70001

Property Details for 2509 Houma Blvd

Year built

1970

Lot size

0.33 AC

Property size (Sq ft)

17,550 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 12-unit apartment building, Greystone Manor, presents a compelling investment opportunity in the desirable Metairie, Louisiana market. Located at 2509 Houma Blvd, 70001, this property boasts a total of 17,550 square feet on a 0.33-acre lot. The building, constructed in 1970, features three stories and offers 12,600 square feet of net rentable space. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $90,458, resulting in an attractive 6.99% capitalization rate. The asking price is $1,295,000, translating to a price per square foot of $73.79. Recent renovations enhance the property's appeal, ensuring a strong return on investment. The property is situated in the Airport-Metairie-Kenner submarket and is available for purchase on May 3rd, 2024. The land encompasses 14,442 square feet, providing ample space. This fully leased multifamily asset offers a rare opportunity to acquire a stable and profitable income-generating property in a thriving Louisiana location. The building's strong performance and prime location make it an ideal addition to any investment portfolio. Serious inquiries are encouraged.

Location Insight

City

Metairie

County

Jefferson Parish

State

Louisiana

Latitude

29.997

Longitude

-90.178

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