78-Unit Multifamily Apartment
6711-6817 Tara Ln New Orleans, LA 70127
6711-6817 Tara Ln, New Orleans, LA, 70127
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For Sale
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Class C multifamily community offering one-, two-, and three-bedroom units on 2.77 acres in New Orleans East.
Property Size98,710 SF
Lot Size2.77 Acres
Price / SF$12.16
Days on Market97
Property Features for 6711-6817 Tara Ln
General Information
- Standard status
- Active
- Size
- 98,710 SF
- Lot size
- 2.77 Acres
- Property subtype
- Multifamily
Listing agency
United Real Estate Partner
(504) 432-3435
Listed by
Mike Mito · License #LA 995711004
Source
Crexi
Added: Apr 17 Updated: Jul 21 at 11:58PM Checked: Jul 21 at 11:58PM
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 United Real Estate Partner
Investment Insights
Based on property information with market context.
Plaza Park Apartments is a 78-unit Class C multifamily community built in 1986, with a unit mix of one-, two-, and three-bedroom apartments. The property totals approximately 98,710 gross square feet and 76,100 rentable square feet. Following foreclosure, the asset has experienced significant deferred maintenance, and it is being marketed accordingly. The site is zoned S-RM2 (Suburban Multifamily) and is not located within a designated FEMA flood zone.
Located in the West Lake Forest submarket of New Orleans East, the property sits along the I-10 corridor, providing direct and efficient access to downtown New Orleans and the Central Business District. Retail corridors along Bullard Avenue and Chef Menteur Highway are nearby, along with proximity to major medical, educational, and government employment anchors throughout eastern New Orleans and the surrounding region.
The offering contemplates a value-add rehabilitation, with estimated total CapEx of $3,950,000 and an after-repair value of approximately $5,125,000, plus a projected stabilized NOI of $614,400 and an 18- to 24-month stabilization timeline post-acquisition.
Located in the West Lake Forest submarket of New Orleans East, the property sits along the I-10 corridor, providing direct and efficient access to downtown New Orleans and the Central Business District. Retail corridors along Bullard Avenue and Chef Menteur Highway are nearby, along with proximity to major medical, educational, and government employment anchors throughout eastern New Orleans and the surrounding region.
The offering contemplates a value-add rehabilitation, with estimated total CapEx of $3,950,000 and an after-repair value of approximately $5,125,000, plus a projected stabilized NOI of $614,400 and an 18- to 24-month stabilization timeline post-acquisition.
Key Highlights
- 78‑unit Class C multifamily property at 6711–6717 Tara Lane in New Orleans, LA
- 2.77‑acre site with approximately 98,710 gross SF and 76,100 rentable SF
- Unit mix includes one-, two-, and three‑bedroom apartments
Property Analytics
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FAQs
What type of property is this?
Apartment building - Class C multifamily community offering one-, two-, and three-bedroom units on 2.77 acres in New Orleans East.
Where is this apartment building located?
The property is located at 6711-6817 Tara Ln New Orleans, LA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 78‑unit Class C multifamily property at 6711–6717 Tara Lane in New Orleans, LA; 2.77‑acre site with approximately 98,710 gross SF and 76,100 rentable SF; Unit mix includes one-, two-, and three‑bedroom apartments
