Gated Apartment Building with
2609 Transcontinental Drive Metairie, LA 70001
2609 Transcontinental Drive, Metairie, LA, 70001
$1,295,000
For Sale
$1,295,000
Gated multifamily community with on-site laundry, featuring one- and two-bedroom units updated with recent roof and A/C replacements.
Property Size7,860 SF
Price / SF$164.76
Days on Market266
Property Features for 2609 Transcontinental Drive
General Information
- Standard status
- Active
- Size
- 7,860 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1968
Listing agency
KELLER WILLIAMS REALTY 455-0100
(504) 416-7747
Listed by
Patty Bradford · License #54027
Source
Compass
Added: Oct 30, 2025 Updated: Jul 22 at 7:58AM Checked: Jul 22 at 7:58AM
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 KELLER WILLIAMS REALTY 455-0100
Investment Insights
Based on property information with market context.
This gated apartment building contains 10 one-bedroom/one-bath units and 1 two-bedroom/one-bath unit. The property includes an on-site laundry room. Recent improvements include a replaced roof and replacement of all exterior A/C units. Interior work includes replacement of all floors and fresh painting after the last tenants moved out, and the owner has updated some kitchens and baths as units have become available.
Located at 2609 Transcontinental Drive in Metairie, Louisiana, the community is positioned for straightforward residential rental operations with centralized laundry access.
The current unit mix offers a mix of one- and two-bedroom layouts within a single gated community, supported by the building-wide exterior mechanical and interior turnover updates described in the remarks. The landlord also collects $50 per month from every tenant toward water and sewerage, to be added to rental income.
Located at 2609 Transcontinental Drive in Metairie, Louisiana, the community is positioned for straightforward residential rental operations with centralized laundry access.
The current unit mix offers a mix of one- and two-bedroom layouts within a single gated community, supported by the building-wide exterior mechanical and interior turnover updates described in the remarks. The landlord also collects $50 per month from every tenant toward water and sewerage, to be added to rental income.
Key Highlights
- 12 total units in a 3‑story brick multifamily building in Metairie, built in 1968
- Unit mix: 10 one‑bedroom/1‑bath units and 1 two‑bedroom/1‑bath unit
- Gated community with on‑site laundry
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $141.5k | $18.00 |
| − Vacancy | −$8.5k | −$1.08 |
| EGI | $133.0k | $16.92 |
| − OpEx | −$59.8k | −$7.61 |
| NOI | $73.1k | $9.31 |
7,860 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$914.3K – $1.22M
NOI $73,145 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,843 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Gated multifamily community with on-site laundry, featuring one- and two-bedroom units updated with recent roof and A/C replacements.
Where is this apartment building located?
The property is located at 2609 Transcontinental Drive Metairie, LA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 12 total units in a 3‑story brick multifamily building in Metairie, built in 1968; Unit mix: 10 one‑bedroom/1‑bath units and 1 two‑bedroom/1‑bath unit; Gated community with on‑site laundry
