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4289 Lac Saint Pierre Dr Harvey, LA 70058

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For Sale
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24-Unit Complex + 4 Vacant Lots

Property size:
26,400 SF

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

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Listing Contact
Mason Mccullough
Mason Mccullough

Listing Agency: Bridgewater Realty Advisors Listing Agent: Mason Mccullough

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

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 Profile Location Intelligence

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Commercial real estate

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Real Estate Agency Restaurant Hair Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop Accounting Firm Big Box & Wholesale Store Kitchen & Bath Showroom

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Location Insight

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City
Harvey
County
Jefferson Parish
State
Louisiana
Longitude
-90.04434
Latitude
29.8430219

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.
(504) 274-2701 Call to check price and availability
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