31-Unit Apartment Building
New
For Sale
$3,295,000
1425 MONROE Street, Gretna, LA 70053
Multi-Family, Gretna, LA
Property Size12,925 SF
Price / SF$254.93
Days on Market7
Property Features for 1425 MONROE Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Lot features
Corner, Oversized
Standard status
Active
APN
0100002780
Size
12,925 SF
Taxes and HOA fees
Tax Description
LOT Y SQ 86 & PORTIONS OF LOTS 6 7 & 8 SQ 86 MCDONOGHVILLE
Legal Description
LOT Y SQ 86 & PORTIONS OF LOTS 6 7 & 8 SQ 86 MCDONOGHVILLE
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
31
Roof type
Shingle, Asphalt
Listing Agency:
Forte Realty, LLC
(504) 276-2668
Listed By:
Blaine Tatje · License #995712484
(504) 293-2460
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 23 at 1:06AM
MLS# 2576731
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Woodcrest Apartments comprises 31 units across three low-rise buildings at 1425 Monroe Street in Gretna. The 12,925-square-foot property was built in 1980 and includes durable cinder block construction, solid-surface flooring, window-unit cooling, and asphalt shingle roofs replaced in 2021. Every apartment is configured with one bedroom and one bathroom, while public water serves the property.
The offering also includes two adjacent parcels measuring approximately 0.18 acres and 0.24 acres. The property is positioned in Gretna with access to Westbank amenities and New Orleans. The reported in-place cap rate is 7.70%.
The offering also includes two adjacent parcels measuring approximately 0.18 acres and 0.24 acres. The property is positioned in Gretna with access to Westbank amenities and New Orleans. The reported in-place cap rate is 7.70%.
Key Highlights
- 31 units across 3 low‑rise apartment buildings
- All units feature a 1 bedroom/1 bath configuration
- 12,925 square feet on approximately 0.18‑acre and 0.24‑acre adjacent parcels
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
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Open 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Low-rise apartments combine one-bedroom layouts, cinder block construction, and roofs replaced in 2021.
Where is this apartment building located?
The property is located at 1425 MONROE Street 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 units across 3 low‑rise apartment buildings; All units feature a 1 bedroom/1 bath configuration; 12,925 square feet on approximately 0.18‑acre and 0.24‑acre adjacent parcels
