New Construction
New
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 Market7
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
Amenities
stainless steel appliances
laundry room
covered porches
gated iron fence
off-street parking
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 · License #995717250
(862) 668-7755
Added: Sep 17
Last Checked: Sep 23 at 2:06AM
MLS# 2577739
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.
This fourplex is arranged with two residences on each of its two floors, for a total of four units. Each residence offers three bedrooms, two bathrooms, an open living area, a fully equipped kitchen with stainless steel appliances, a primary suite with a private bath, and laminate flooring. Separate entrances, water heaters, and laundry rooms serve each unit. The property also includes fire alarm and sprinkler systems, covered porches, a gated iron fence, and a concrete driveway with off-street parking.
Located in Gretna, the property is zoned RR3 - Three and Four Family Residential District and sits on a 6,930 sq ft lot. Public water, central heating, central air, and a shingle roof are provided. The site is outside the special flood hazard area in Zone X500. Construction is identified as 2026, with the property condition listed as under construction.
Located in Gretna, the property is zoned RR3 - Three and Four Family Residential District and sits on a 6,930 sq ft lot. Public water, central heating, central air, and a shingle roof are provided. The site is outside the special flood hazard area in Zone X500. Construction is identified as 2026, with the property condition listed as under construction.
Key Highlights
- Four units arranged as 2 first‑floor residences and 2 second‑floor residences
- Each unit includes 3 bedrooms and 2 bathrooms
- 6,930 sq ft lot with 4,150 sq ft total gross living area
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
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Sprinkler system
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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-unit residential property with separate entries, private laundry rooms, covered porches, and 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: Four units arranged as 2 first‑floor residences and 2 second‑floor residences; Each unit includes 3 bedrooms and 2 bathrooms; 6,930 sq ft lot with 4,150 sq ft total gross living area
