10-Unit Apartment
For Sale
$1,100,000
213 Rosebud St, Metairie, LA 70005
R3-zoned property with renovated interiors, shared laundry, and on-site tenant parking.
Property Size5,573 SF
Price / SF$197.38
Days on Market22
Property Features for 213 Rosebud St
General Information
Standard status
Active
Size
5,573 SF
Total Parking Spaces
11
Occupancy
100%
Units
Unit Mix
9 x 1BR/1BA, 1 x efficiency
Multifamily Units
10
Amenities
common laundry room
Building Details
Year Built
1985
Listing Agency:
Compass Metro
(504) 251-7442
Listed By:
Robin Stewart · License #70826
Source:
Dominionplace
Added: Aug 8
Changed: Aug 28
Last Checked: Aug 25 at 4:25AM
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 Compass Metro
Investment Insights
Based on property information with market context.
Built in 1985, this 5,573-square-foot apartment property contains 10 units, with the primary layouts configured as one-bedroom, one-bath residences and Unit J arranged as an efficiency. Interior improvements include granite countertops along with tile and laminate wood flooring. The property is currently 100% occupied.
Residents have access to a common laundry room equipped with two washers and two dryers. The front parking area provides approximately 11 vehicle spaces. At the rear, a former pool area has been filled and now provides an outdoor area for residents. The property is zoned R3 and located at 213 Rosebud St in Metairie, Louisiana.
Residents have access to a common laundry room equipped with two washers and two dryers. The front parking area provides approximately 11 vehicle spaces. At the rear, a former pool area has been filled and now provides an outdoor area for residents. The property is zoned R3 and located at 213 Rosebud St in Metairie, Louisiana.
Key Highlights
- 10‑unit apartment property with 5,573 SF of building area
- One‑bedroom, one‑bath layouts plus an efficiency unit
- Interior updates include granite countertops, tile, and laminate wood 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
$51,862
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
4.71%
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%
$1,037,240
$1.0M
Cap Rate 7%
$740,886
$740.9K
Cap Rate 9%
$576,244
$576.2K
Market Conditions
NOI Build-Up for 5,573 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
$100.3K $18.00/SF
− Vacancy
−$6.0K −$1.08/SF
EGI
$94.3K $16.92/SF
− OpEx
−$42.4K −$7.61/SF
NOI
$51.9K $9.31/SF
Area
Metairie, LA
Vacancy
6.00%
Lease Rate
$18.00 /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%
$1,037,240
Cap Rate 7%
$740,886
Cap Rate 9%
$576,244
Alternative Uses
Best Use
Apartment 5plus
$740.9K
$648.3K – $864.4K
NOI $51,862 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,354 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
871
Businesses Nearby
Explore this area
Business Placement
Demographics for 70005, LA
25,431
Population
12,447
Households
2
Avg Household Size
45
Median Age
50%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
6,055
Density / Sq Mi
$86,048
Median Household Income
$53,258
Median Earnings
$1,160
Median Rent
$381,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - R3-zoned property with renovated interiors, shared laundry, and on-site tenant parking.
Where is this apartment building located?
The property is located at 213 Rosebud St Metairie, LA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 10‑unit apartment property with 5,573 SF of building area; One‑bedroom, one‑bath layouts plus an efficiency unit; Interior updates include granite countertops, tile, and laminate wood flooring
