31-Unit Apartment
New
For Sale
$3,295,000
1425 Monroe St, Gretna, LA 70053
Three low-rise buildings offer a uniform one-bedroom, one-bath apartment configuration in Gretna.
Property Size12,925 SF
Price / SF$254.93
Days on Market5
Property Features for 1425 Monroe St
General Information
Standard status
Active
Size
12,925 SF
Property subtype
Multi-Family
Net Operating Income
$253,772
Financials
Asking Price
$3,295,000
Cap Rate
7.7%
Gross Income
$383,268
Units
Unit Mix
31 x 1BR/1BA
Multifamily Units
31
Building Details
Year Built
1980
Buildings
3
Construction
cinder block
Listing Agency:
Nola Real Estate 4-U, LLC
(504) 304-9597
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 19
Changed: Sep 21
Last Checked: Sep 22 at 4:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Nola Real Estate 4-U, LLC
Investment Insights
Based on property information with market context.
This multifamily portfolio includes 31 apartments across three low-rise buildings in Gretna. Each residence is arranged as one bedroom and one bathroom, creating a consistent unit mix throughout the property. The buildings feature cinder block construction, solid-surface flooring, and roofs replaced in 2021. Constructed in 1980, the portfolio also includes two adjacent parcels measuring approximately 0.18 acres and 0.24 acres.
The property is located at 1425 Monroe St in Gretna, with access to Westbank amenities and New Orleans. The offering includes an in-place cap rate of 7.70%, along with the additional land parcels.
The property is located at 1425 Monroe St in Gretna, with access to Westbank amenities and New Orleans. The offering includes an in-place cap rate of 7.70%, along with the additional land parcels.
Key Highlights
- 31 apartments across 3 buildings
- All units are configured as 1 bedroom/1 bath
- Cinder block construction with solid‑surface flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$132,597
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,651,940
$2.7M
Cap Rate 7%
$1,894,243
$1.9M
Cap Rate 9%
$1,473,300
$1.5M
Market Conditions
NOI Build-Up for 12,925 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$265.2K $20.52/SF
− Vacancy
−$24.1K −$1.87/SF
EGI
$241.1K $18.65/SF
− OpEx
−$108.5K −$8.39/SF
NOI
$132.6K $10.26/SF
Area
Jefferson County, LA
Vacancy
9.10%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,651,940
Cap Rate 7%
$1,894,243
Cap Rate 9%
$1,473,300
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.66M – $2.21M
NOI $132,597 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.41M
$2.98M – $3.98M
NOI $238,699 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
31
Residential units
Location Intelligence
Trade Area within ½ mile
1,485
Businesses Nearby
Explore this area
Business Placement
Demographics for 70053, LA
16,509
Population
7,865
Households
2.1
Avg Household Size
39
Median Age
24%
College-Educated
75%
High-School Grad
3.4 sq mi
ZIP Area
4,856
Density / Sq Mi
$43,786
Median Household Income
$31,667
Median Earnings
$1,017
Median Rent
$225,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Three low-rise buildings offer a uniform one-bedroom, one-bath apartment configuration in Gretna.
Where is this apartment building located?
The property is located at 1425 Monroe St Gretna, LA.
What is the asking price?
The asking price for this property is $3,295,000.
What are key features of this property?
This property features: 31 apartments across 3 buildings; All units are configured as 1 bedroom/1 bath; Cinder block construction with solid‑surface flooring
