Updated Duplex with Separate
For Sale
$285,000
600 02 Grove Ave, Metairie, LA 70003
Raised duplex with two living sides, individual laundry rooms, and recent interior updates.
Property Size1,452 SF
Lot Size0.14 Acres
Price / SF$196.28
Days on Market23
Property Features for 600 02 Grove Ave
General Information
Standard status
Active
Size
1,452 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Building Details
Year Built
1953
Listing Agency:
Tuxor Realty
(713) 893-5580
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 14
Changed: Oct 4
Last Checked: Oct 5 at 6:43PM
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.
Built in 1953, this raised duplex contains two separate living sides with individual attached laundry rooms and driveways. Both sides feature vinyl windows, vinyl siding, wood-look vinyl flooring, and no carpet. Recent work includes fresh paint, new window units, and kitchen and bath updates. One side has new appliances, cabinets, and countertops.
The property occupies a 50-by-120-foot lot and offers 1,452 square feet of building area. Its two-sided layout supports separate occupancy, including the option to live in one side while leasing the other, subject to applicable requirements.
The property occupies a 50-by-120-foot lot and offers 1,452 square feet of building area. Its two-sided layout supports separate occupancy, including the option to live in one side while leasing the other, subject to applicable requirements.
Key Highlights
- Duplex with 1,452 square feet of building area
- Two attached laundry rooms and separate driveways
- 50‑by‑120‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,527
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$310,540
$310.5K
Cap Rate 7%
$221,814
$221.8K
Cap Rate 9%
$172,522
$172.5K
Market Conditions
NOI Build-Up for 1,452 SF
Gross rent
$23.5K $16.20/SF
− Vacancy
−$1.3K −$0.92/SF
EGI
$22.2K $15.28/SF
− OpEx
−$6.7K −$4.58/SF
NOI
$15.5K $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%
$310,540
Cap Rate 7%
$221,814
Cap Rate 9%
$172,522
Alternative Uses
Best Use
Multifamily LT 5
$221.8K
$194.1K – $258.8K
NOI $15,527 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$193.0K
$168.9K – $225.2K
NOI $13,512 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$340.0K
$297.5K – $396.7K
NOI $23,802 @ 7.0% cap · market cap 8.35%
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
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 70003, LA
40,068
Population
17,479
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
89%
High-School Grad
7.0 sq mi
ZIP Area
5,724
Density / Sq Mi
$76,151
Median Household Income
$45,102
Median Earnings
$1,191
Median Rent
$255,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Raised duplex with two living sides, individual laundry rooms, and recent interior updates.
Where is this duplex located?
The property is located at 600 02 Grove Ave Metairie, LA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Duplex with 1,452 square feet of building area; Two attached laundry rooms and separate driveways; 50‑by‑120‑foot lot
