Occupied 8-Unit Apartment
For Sale
$650,000
600 WESTWOOD Drive, Marrero, LA 70072
Multi-Family, Marrero, LA
Property Size4,100 SF
Price / SF$158.54
Days on Market96
Property Features for 600 WESTWOOD Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Driveway
Lot features
Regular
Standard status
Active
APN
0420001951
Size
4,100 SF
Taxes and HOA fees
Tax Description
LOT 1 BLOCK C WESTWOOD EXT #2
Legal Description
LOT 1 BLOCK C WESTWOOD EXT #2
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
on-site coin-operated laundry
Building Details
Year built
1973
Floors in Building
2
Number of units
8
Roof type
Shingle
Listing Agency:
Homesmart Realty South · HomeSmart International
(504) 908-7653
Listed By:
Christy Murphy · License #000020349
(985) 705-4263
Added: Jun 25
Changed: Sep 12
Last Checked: Sep 28 at 2:06PM
MLS# 2563337
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.
Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 4,100 square feet and was built in 1973. The fully occupied building is equipped with central heating and central air, while a shingle roof, public water service, and driveway parking support the existing improvements. On-site coin-operated laundry provides an additional operating feature for residents.
Located at 600 Westwood Drive in Marrero, the property sits just off the Westbank Expressway. The surrounding area provides access to shopping, dining, and major employers, offering a practical setting for an occupied multifamily asset.
Located at 600 Westwood Drive in Marrero, the property sits just off the Westbank Expressway. The surrounding area provides access to shopping, dining, and major employers, offering a practical setting for an occupied multifamily asset.
Key Highlights
- 8‑unit apartment property with 4,100 square feet
- Fully occupied multifamily building
- On‑site coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,062
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$841,240
$841.2K
Cap Rate 7%
$600,886
$600.9K
Cap Rate 9%
$467,356
$467.4K
Market Conditions
NOI Build-Up for 4,100 SF
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.
Gross rent
$84.1K $20.52/SF
− Vacancy
−$7.7K −$1.87/SF
EGI
$76.5K $18.65/SF
− OpEx
−$34.4K −$8.39/SF
NOI
$42.1K $10.26/SF
Area
Jefferson County, LA
Vacancy
9.10%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$841,240
Cap Rate 7%
$600,886
Cap Rate 9%
$467,356
Alternative Uses
Best Use
Apartment 5plus
$600.9K
$525.8K – $701.0K
NOI $42,062 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$946.5K – $1.26M
NOI $75,719 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
Explore this area
Business Placement
Demographics for 70072, LA
56,924
Population
22,845
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
80%
High-School Grad
51.8 sq mi
ZIP Area
1,099
Density / Sq Mi
$55,866
Median Household Income
$34,411
Median Earnings
$1,091
Median Rent
$190,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Central heating, central air, driveway parking, and on-site coin-operated laundry serve the fully occupied property.
Where is this apartment building located?
The property is located at 600 WESTWOOD Drive Marrero, LA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 8‑unit apartment property with 4,100 square feet; Fully occupied multifamily building; On‑site coin‑operated laundry
