3005 LAKE VILLA Drive, Metairie, LA 70002
MULTI_FAMILY - Metairie, LA
- Added:
- Apr 23, 2026
- Days on Market:
- 50
- Last Refresh:
- Jun 11 at 7:06 pm
Property Features for 3005 LAKE VILLA Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Parking features
- Assigned, Off Street
- Standard status
- Active
- APN
- 0820030953
- Size
- 4,580 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- LOT 9 SQ 36 SEC D LAKE VILLA SUB
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1975
- Floors in Building
- 2
- Number of units
- 6
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Lori Scott License #S55873 (504) 862-0100
Listing office Keller Williams Realty New Orleans 8601 Leake Ave., New Orleans, LA (504) 862-0100
Listing date Apr 23, 2026
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.
HighLights
- 6‑plex with five 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath manager unit
- Currently rented at $6,125/month; rent proforma of $7,400/month
- Tenants pay electric and owner pays water
- Central heating and central air; asphalt shingle roof
- Coin‑operated washers and dryers on site in a rear common area
- All underground plumbing replaced a few years back
Overview
Each unit has an assigned parking lane that can hold two cars. The property includes underground plumbing that was replaced a few years ago. Public remarks indicate convenient access to the interstate, Veterans Hwy, bus stops, and nearby dining and grocery options.
As reported in the listing, the building is currently under rented at $6,125 per month, and a rent pro forma is shown at $7,400 per month. Current coin laundry income is reported at $350 per month. Flood insurance is listed at $1,689, and the listing notes buyers and buyer’s agents should perform their own due diligence regarding the flood zone and related requirements.
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 | $82.4k | $18.00 |
| − Vacancy | −$4.9k | −$1.08 |
| EGI | $77.5k | $16.92 |
| − OpEx | −$34.9k | −$7.61 |
| NOI | $42.6k | $9.31 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Metairie
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.175995
- Latitude
- 30.001842
