Updated Triplex with Detached
504-06 Nursery Avenue Metairie, LA 70005
504-06 Nursery Avenue, Metairie, LA, 70005
$649,000
Pending
For Sale
$649,000
Pending
Triplex includes three residential units, each with private laundry, plus a detached oversized double garage.
Property Size1,993 SF
Days on Market187
Property Features for 504-06 Nursery Avenue
General Information
- Standard status
- Pending
- Size
- 1,993 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1961
Listing agency
KELLER WILLIAMS REALTY 455-0100
(504) 251-4142
Listed by
Judy Walker · License #000003803
(504) 251-4142
Source
Compass
Added: Jan 16 Updated: Jul 21 at 12:16PM Checked: Jul 21 at 12:16PM
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 455-0100
Investment Insights
Based on property information with market context.
This for-sale triplex offers three separate residential units with in-unit private laundry. The layout includes a 2BR/2BA unit with an office, and additional 2BR/1BA and 1BR/1BA units. Updates and finishes vary by unit, including features such as stainless steel appliances, quartz countertops, luxury vinyl plank flooring in the 2BR/2BA unit, natural hardwood flooring in the 2BR/1BA unit, and fully renovated finishes in the 1BR/1BA unit.
A detached oversized double garage (20' x 30') provides parking and additional storage or workshop space. Notable improvements include a replaced roof on the main house in 2020 and a replaced roof on the detached garage in 2022.
The property is positioned for owner-occupant or investor use, with separate units and dedicated laundry for each unit.
A detached oversized double garage (20' x 30') provides parking and additional storage or workshop space. Notable improvements include a replaced roof on the main house in 2020 and a replaced roof on the detached garage in 2022.
The property is positioned for owner-occupant or investor use, with separate units and dedicated laundry for each unit.
Key Highlights
- Triplex with three units: 2BR/2BA (+ office), 2BR/1BA, and 1BR/1BA.
- Each unit includes its own private laundry.
- Detached oversized double garage measures 20' x 30' for parking, storage, or workshop use.
Local Financial Insights For Multifamily LT 5
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 | $32.3k | $16.20 |
| − Vacancy | −$1.8k | −$0.92 |
| EGI | $30.4k | $15.28 |
| − OpEx | −$9.1k | −$4.58 |
| NOI | $21.3k | $10.69 |
1,993 SF · lease $16.20/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$304.5K
$266.4K – $355.2K
NOI $21,312 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$265.0K
$231.8K – $309.1K
NOI $18,547 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$466.7K
$408.4K – $544.5K
NOI $32,670 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Triplex includes three residential units, each with private laundry, plus a detached oversized double garage.
Where is this triplex located?
The property is located at 504-06 Nursery Avenue Metairie, LA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Triplex with three units: 2BR/2BA (+ office), 2BR/1BA, and 1BR/1BA.; Each unit includes its own private laundry.; Detached oversized double garage measures 20' x 30' for parking, storage, or workshop use.
