4289 Lac Saint Pierre Dr Harvey, LA 70058
Call to check price and availability
24-Unit Complex + 4 Vacant Lots
Property size:
26,400 SFProperty 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
Listing Agency: Bridgewater Realty Advisors Listing Agent: Mason Mccullough
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
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
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Harvey
- County
- Jefferson Parish
- State
- Louisiana
- Longitude
- -90.04434
- Latitude
- 29.8430219
Nearby Similar for Sale
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.
