New Construction
For Sale
$730,000
2900 N Monterey Ct, Gretna, LA 70056
Four separately entered units offer three-bedroom layouts, private baths, stainless appliances, and dedicated laundry hookups.
Property Size4,151 SF
Price / SF$175.86
Days on Market111
Property Features for 2900 N Monterey Ct
General Information
Standard status
Active
Size
4,151 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Heba Awawda · License #995717250
Source:
Dominionplace
Added: May 12
Changed: Aug 30
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 Keller Williams Realty New Orleans
Investment Insights
Based on property information with market context.
Completed in 2025, this fourplex contains two residences on each level. Every unit includes three bedrooms, two bathrooms, an open living and kitchen arrangement, stainless steel appliances, laminate flooring, and hookups for in-unit laundry. Primary suites include private bathrooms with soaking tubs and tiled surrounds. Separate entrances, water heaters, and laundry rooms provide functional independence for each residence.
The property occupies a 6,930-square-foot lot in Gretna and includes a concrete driveway for off-street parking, covered porches, and a gated iron fence. It is zoned RR3, the Three and Four Family Residential District, and is located outside the special flood hazard area in Zone X500.
The property occupies a 6,930-square-foot lot in Gretna and includes a concrete driveway for off-street parking, covered porches, and a gated iron fence. It is zoned RR3, the Three and Four Family Residential District, and is located outside the special flood hazard area in Zone X500.
Key Highlights
- Four units arranged as two first‑floor and two second‑floor residences
- Each unit has 3 bedrooms and 2 bathrooms
- 2025 construction with laminate flooring and stainless steel appliances
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
$45,554
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
6.24%
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%
$911,080
$911.1K
Cap Rate 7%
$650,771
$650.8K
Cap Rate 9%
$506,156
$506.2K
Market Conditions
NOI Build-Up for 4,151 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
$71.2K $17.16/SF
− Vacancy
−$6.2K −$1.48/SF
EGI
$65.1K $15.68/SF
− OpEx
−$19.5K −$4.70/SF
NOI
$45.6K $10.97/SF
Area
Jefferson County, LA
Vacancy
8.64%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$911,080
Cap Rate 7%
$650,771
Cap Rate 9%
$506,156
Alternative Uses
Best Use
Multifamily LT 5
$650.8K
$569.4K – $759.2K
NOI $45,554 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$608.4K
$532.3K – $709.8K
NOI $42,585 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$1.10M
$958.3K – $1.28M
NOI $76,661 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
787
Businesses Nearby
Explore this area
Business Placement
Demographics for 70056, LA
41,498
Population
15,784
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
87%
High-School Grad
6.8 sq mi
ZIP Area
6,103
Density / Sq Mi
$61,831
Median Household Income
$36,062
Median Earnings
$1,163
Median Rent
$223,000
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?
Quadplex - Four separately entered units offer three-bedroom layouts, private baths, stainless appliances, and dedicated laundry hookups.
Where is this quadplex located?
The property is located at 2900 N Monterey Ct Gretna, LA.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: Four units arranged as two first‑floor and two second‑floor residences; Each unit has 3 bedrooms and 2 bathrooms; 2025 construction with laminate flooring and stainless steel appliances
