New Construction Fourplex in
For Sale
$730,000
2900 N MONTEREY Court, Gretna, LA 70056
MULTI_FAMILY - Gretna, LA
Property Size4,151 SF
Lot Size0.16 Acres
Price / SF$175.86
Days on Market103
Property Features for 2900 N MONTEREY Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Parking features
Off Street
Patio and Porch features
Porch
Exterior features
Porch
Lot features
Irregular
Standard status
Active
APN
200008407
Size
4,151 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LOT 1-A SQ B TRIANON SQUARE
Legal Description
LOT 1-A SQ B TRIANON SQUARE
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
4
Roof type
Shingle
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Heba Awawda
(504) 862-0100
Added: May 12
Changed: Jun 11
Last Checked: Aug 22 at 6:06AM
MLS# 2557548
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.
The property is a brand-new construction fourplex featuring four residential units arranged with two units on the first floor and two units on the second floor. Each unit includes three bedrooms and two bathrooms, with an open living area and a fully equipped kitchen featuring stainless steel appliances. Interiors are finished with laminate flooring, and the primary suite includes a private bath with a soaking tub and tile surround. The building is equipped with a fire alarm and sprinkler system, and each unit has its own separate entry, water heater, and laundry room. Exterior improvements include covered porches, a large concrete driveway, ample off-street parking, and a gated iron fence.
The fourplex is located at 2900 N MONTEREY Court in Gretna, within Jefferson Parish. The property is zoned RR3 - Three and Four Family Residential District. It is stated to be outside the special flood hazard area (Zone X500).
This configuration is well suited for tenants or owner-occupants looking for separate, independently entered units within a purpose-built income property. With all four units sharing the same general layout and having in-unit laundry and dedicated water heating, it can be practical for operations and maintenance planning. The property’s described new construction condition and lack of deferred maintenance may appeal to buyers seeking a turnkey residential income asset in an RR3 setting.
The fourplex is located at 2900 N MONTEREY Court in Gretna, within Jefferson Parish. The property is zoned RR3 - Three and Four Family Residential District. It is stated to be outside the special flood hazard area (Zone X500).
This configuration is well suited for tenants or owner-occupants looking for separate, independently entered units within a purpose-built income property. With all four units sharing the same general layout and having in-unit laundry and dedicated water heating, it can be practical for operations and maintenance planning. The property’s described new construction condition and lack of deferred maintenance may appeal to buyers seeking a turnkey residential income asset in an RR3 setting.
Key Highlights
- Brand new construction fourplex built in 2026, offering immediate rental income potential.
- Four units, each with 3 bedrooms and 2 bathrooms, totaling 4,150 sq ft of gross living area.
- Each unit features a fully equipped kitchen with stainless steel appliances and a primary suite with private bath including soaking tub.
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
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Sprinkler system
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
377
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 - Brand-new fourplex with four separate entrances, 3-bedroom/2-bath units, and gated off-street parking.
Where is this quadplex located?
The property is located at 2900 N MONTEREY Court 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: Brand new construction fourplex built in 2026, offering immediate rental income potential.; Four units, each with 3 bedrooms and 2 bathrooms, totaling 4,150 sq ft of gross living area.; Each unit features a fully equipped kitchen with stainless steel appliances and a primary suite with private bath including soaking tub.
