Six-Unit Multifamily Building with Laundry

6-3005 Lake Villa Dr, Metairie, LA 70002

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For Sale

$735,000

Six-unit property with coin laundry, assigned parking, and replaced underground plumbing for practical day-to-day operations.

Property size:

4,580 SF

Price / SF:

$160/SF

HighLights

6‑plex with 5 units that are 2 bed/1 bath plus 1 unit that is 1 bed/1 bath (manager’s unit).
Pro forma rent listed at $7,400/month; current under‑rented amount is $6,125/month.
Coin‑operated washers and dryers on site generating $350 monthly income.
Tenants pay electric; owner pays water.
All underground plumbing replaced a few years ago.
Rear‑of‑building location with assigned parking lanes; each lane holds 2 cars.

We can help!

Listing Contact

Lori Scott

Learn more

For Sale

$735,000

Six-unit property with coin laundry, assigned parking, and replaced underground plumbing for practical day-to-day operations.

Property size:

4,580 SF

Price / SF:

$160/SF

Added:: Jun 17, 2026
Days on Market:: 4
Last Refresh:: Jun 20 at 4:41 am

Property Features for 6-3005 Lake Villa Dr

General Information

Standard status: Active
Size: 4,580 SF

We can help!

Listing Contact

Lori Scott

Listing agent Lori Scott License #S55873

Listing office Keller Williams Realty New Orleans

Listing date Jun 17, 2026

Source Exprealty

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 New Orleans

HighLights

6‑plex with 5 units that are 2 bed/1 bath plus 1 unit that is 1 bed/1 bath (manager’s unit).
Pro forma rent listed at $7,400/month; current under‑rented amount is $6,125/month.
Coin‑operated washers and dryers on site generating $350 monthly income.
Tenants pay electric; owner pays water.
All underground plumbing replaced a few years ago.
Rear‑of‑building location with assigned parking lanes; each lane holds 2 cars.

Overview

The property is a six-unit multifamily building arranged as five two-bedroom, one-bath units and one one-bedroom, one-bath unit. The one-bedroom unit is currently used as the manager’s unit. Coin-operated washers and dryers are located on site toward the rear of the building, generating $350 monthly income. Utility responsibilities are split with tenants paying electric and the owner paying water. The asset also benefits from replaced underground plumbing completed a few years ago.

The building is located at 6-3005 Lake Villa Dr, Metairie, LA. Access is described as easy to the interstate, Veterans Hwy, bus stops, and nearby dining and grocery options. Each unit has an assigned parking lane that can accommodate two cars.

From an operating standpoint, this configuration supports a straightforward tenant mix with both two-bedroom and one-bedroom options. Current remarks indicate collected rent at $6,125 per month, with a pro forma rent figure of $7,400. Insurance figures referenced in the materials include flood insurance of $1,689, current property insurance of $10,165, and liability coverage of $1,400, which may be useful for budgeting and underwriting discussions.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

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

4,580 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$608.9K

$532.8K – $710.4K (±1% cap)

NOI $42,621 @ 7.0% cap · market cap 5.80%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.07M

$938.5K – $1.25M (±1% cap)

NOI $75,077 @ 7.0% cap · market cap 10.21%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Metairie
County: Jefferson
State: Louisiana
Longitude: -90.1763805
Latitude: 29.9992928

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For sale
Apartment buildings
LA
Metairie
70002
6-3005 Lake Villa Dr

What type of property is this?

Apartment building - Six-unit property with coin laundry, assigned parking, and replaced underground plumbing for practical day-to-day operations.

Where is this apartment building located?

The property is located at 6-3005 Lake Villa Dr Metairie, LA.

What is the asking price?

The asking price for this property is $735,000.

What are key features of this property?

This property features: 6‑plex with 5 units that are 2 bed/1 bath plus 1 unit that is 1 bed/1 bath (manager’s unit).; Pro forma rent listed at $7,400/month; current under‑rented amount is $6,125/month.; Coin‑operated washers and dryers on site generating $350 monthly income.