Two-Unit Duplex with Efficiency
For Sale
$249,000
300 Pasadena Ave, Metairie, LA 70001
Fully occupied property combines a cottage residence with a separately entered studio and private outdoor areas.
Property Size1,491 SF
Price / SF$167
Days on Market52
Property Features for 300 Pasadena Ave
General Information
Standard status
Active
Size
1,491 SF
Property subtype
Multi-Family
Building Details
Year Built
1945
Listing Agency:
Tuxor Realty
(713) 893-5580
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Aug 17
Changed: Oct 4
Last Checked: Oct 5 at 5:52PM
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 Tuxor Realty
Investment Insights
Based on property information with market context.
This two-unit duplex at 300 Pasadena Ave includes a three-bedroom, one-bath cottage and an attached efficiency studio. The cottage offers wood flooring in the living room, granite kitchen countertops, white appliances, black cabinetry, a dining area, a fenced yard, covered carport, attached storage, and laundry hookups. The studio has a private entrance, full kitchen, updated bathroom, walk-in closet, stackable washer and dryer, patio, fire pit, and separate fenced yard.
The property is identified as being in Flood Zone X and is currently fully occupied. Improvements include replacement of the cottage plumbing beneath the structure, water heater, piping, and windows 4 - 5 years ago; an AC condenser replacement approximately 5 - 7 years ago; and a new electric panel and breakers around 2010. Tenant occupancy requires a minimum of 24-hour notice for showings.
The property is identified as being in Flood Zone X and is currently fully occupied. Improvements include replacement of the cottage plumbing beneath the structure, water heater, piping, and windows 4 - 5 years ago; an AC condenser replacement approximately 5 - 7 years ago; and a new electric panel and breakers around 2010. Tenant occupancy requires a minimum of 24-hour notice for showings.
Key Highlights
- Two‑unit layout with a 3 Bedroom 1 Bath cottage and attached efficiency studio
- Efficiency includes private entrance, full kitchen, updated full bathroom, walk‑in closet, patio, and fenced yard
- Cottage features granite countertops, wood floors, covered carport, storage room, and laundry hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,944
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,880
$318.9K
Cap Rate 7%
$227,771
$227.8K
Cap Rate 9%
$177,156
$177.2K
Market Conditions
NOI Build-Up for 1,491 SF
Gross rent
$24.2K $16.20/SF
− Vacancy
−$1.4K −$0.92/SF
EGI
$22.8K $15.28/SF
− OpEx
−$6.8K −$4.58/SF
NOI
$15.9K $10.69/SF
Area
Metairie, LA
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,880
Cap Rate 7%
$227,771
Cap Rate 9%
$177,156
Alternative Uses
Best Use
Multifamily LT 5
$227.8K
$199.3K – $265.7K
NOI $15,944 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$198.2K
$173.4K – $231.3K
NOI $13,875 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$349.2K
$305.5K – $407.4K
NOI $24,441 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied property combines a cottage residence with a separately entered studio and private outdoor areas.
Where is this duplex located?
The property is located at 300 Pasadena Ave Metairie, LA.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit layout with a 3 Bedroom 1 Bath cottage and attached efficiency studio; Efficiency includes private entrance, full kitchen, updated full bathroom, walk‑in closet, patio, and fenced yard; Cottage features granite countertops, wood floors, covered carport, storage room, and laundry hookups
