2509 Houma Blvd Metairie, LA 70001
- Commercial real estate
- 17,550 SF
- 0.33 lot acres
Current Use by Public Records
- Greystone Manor Apartments / Apartment Building
Property Details for 2509 Houma Blvd
- Year built
- 1970
- Lot size
- 0.33 lot acres
- Property size
- 17,550 SF
- Property type
- Commercial real estate
Description
This exceptional 12-unit apartment building, Greystone Manor, presents a compelling investment opportunity in the desirable Metairie, Louisiana market. Located at 2509 Houma Blvd, 70001, this property boasts a total of 17,550 square feet on a 0.33-acre lot. The building, constructed in 1970, features three stories and offers 12,600 square feet of net rentable space. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $90,458, resulting in an attractive 6.99% capitalization rate. The asking price is $1,295,000, translating to a price per square foot of $73.79. Recent renovations enhance the property's appeal, ensuring a strong return on investment. The property is situated in the Airport-Metairie-Kenner submarket and is available for purchase on May 3rd, 2024. The land encompasses 14,442 square feet, providing ample space. This fully leased multifamily asset offers a rare opportunity to acquire a stable and profitable income-generating property in a thriving Louisiana location. The building's strong performance and prime location make it an ideal addition to any investment portfolio. Serious inquiries are encouraged.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Metairie
- County
- Jefferson Parish
- State
- Louisiana
- Longitude
- -90.1779803
- Latitude
- 29.9970187
