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    4289 Lac Saint Pierre Dr Harvey, LA 70058

    Sponsored
    For Sale
    $2,500,000

    24-Unit Complex + 4 Vacant Lots

    Property size:
    26,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 24-unit apartment complex in Harvey, Louisiana, situated on a substantial 65,000 sq ft lot, including four vacant parcels. The property boasts 26,400 square feet of space, currently 100% occupied, with a mix of two-bedroom, one-and-a-half-bath and two-bedroom, two-bath units. Each unit is individually condo'd and features in-unit washer/dryer hookups. Community amenities include a swimming pool and tennis court. Built in 1980, this Class B property offers significant value-add potential. The current NOI is $218,772, with a pro-forma NOI projected at $238,092, resulting in a pro-forma cap rate of 9.52%. The asking price is $2,500,000, representing a price per square foot of $94.70 and a price per unit of $104,166.67. Market rent comparables suggest potential for rental rate increases to $1,350 per month, further enhancing the property's profitability. The property's location in the highly desirable Harvey market ensures strong tenant demand and low turnover. The four vacant lots provide an opportunity for future expansion and increased revenue generation. This property is an ideal addition to any investor's portfolio, offering a blend of immediate income and long-term growth potential.

    Property Features for 4289 Lac Saint Pierre Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    26,400 SF
    Class
    B

    Building Details

    Year Built
    1980
    Buildings
    2
    Stories
    2
    Units
    24

    HighLights

    • 24‑unit apartment complex in Harvey, LA on a 65,000 sq ft lot, including four vacant parcels.
    • 26,400 sq ft building, 100% occupied, with a mix of 2‑bedroom units.
    • Individually condo'd units with in‑unit washer/dryer hookups; community pool and tennis court.
    • Class B property built in 1980, offering value‑add potential; current NOI $218,772, pro‑forma NOI $238,092 (9.52% cap rate).
    • Asking price $2,500,000 ($94.70/sq ft, $104,167/unit); potential for rental increases to $1,350/month.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Hair Salon Clothing Store Building Supply Gym & Fitness Pharmacy Auto Repair Shop Accounting Firm Wholesale Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Harvey
    County
    Jefferson Parish
    State
    Louisiana
    Longitude
    -90.04434
    Latitude
    29.8430219

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    FAQs

    What type of property is this?
    Multifamily property - 24-Unit Complex + 4 Vacant Lots
    Where is this multifamily property located?
    The property is located at 4289 Lac Saint Pierre Dr Harvey, LA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: 24-unit apartment complex in Harvey, LA on a 65,000 sq ft lot, including four vacant parcels.; 26,400 sq ft building, 100% occupied, with a mix of 2-bedroom units.; Individually condo'd units with in-unit washer/dryer hookups; community pool and tennis court.
    Request Owner's contact information
    4289 Lac Saint Pierre Dr Harvey, LA 70058
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    Harvey, LA 70058
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4289 Lac Saint Pierre Dr Harvey, LA 70058
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