913 29 W MONTEREY CT, Gretna, LA 70056
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913 29 W MONTEREY CT, Gretna, LA 70056
913 29 W MONTEREY CT, Gretna, LA 70056
913 29 W MONTEREY CT, Gretna, LA 70056
913 29 W MONTEREY CT, Gretna, LA 70056
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913 29 W MONTEREY CT Gretna, LA 70056

6 Beds

4 Baths

850 SqFt


UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 850 sqft

Price per Sqft $1,352

MLS Listing ID 2571072

Style Contemporary

Bedrooms 6

Full Baths 4

Construction Status Very Good Condition

HOA Y/N No

Year Built 1980

Lot Size 0.311 Acres

Acres 0.3106

Property Sub-Type Quadruplex

Property Description

Three detached four-plex buildings totaling 12 units at 913, 917 and 929 West Monterey Court boast strong in-place cash flow and operational stability. In place cap rate of 9.04%, rental income of $15,445/month (once last unit leases are signed up). The property consists of 12 units, 9 occupied and 3 vacant, with two vacancies at 913 and two at 917 carried below at market rent, presenting a clear lease-up opportunity for a new owner. Additional revenue can be made from on-site laundry. Renovated in 2024, the property features updated electrical, plumbing, roofing, and window systems, contributing to reduced maintenance and long-term durability.

Each unit is individually metered for electricity, enhancing expense control and operational efficiency. The gross building area is appoximately 16,538 sf with 16 off-street parking spaces, and also located in a favorable Flood Zone X where flood insurance is typically not required. A purchaser has the ability to purchase a stabilized asset and continue to raise rents to meet the market, improving the cap rate to 10% plus.

Each 4 plex can be purchased separately or can be purchased as a package deal.

Location

State LA

County Jefferson

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Exterior Feature Fence

Parking Features Assigned, Off Street, One Space

Water Access Desc Public

Roof Type Shingle

Building

Lot Description Outside City Limits, Rectangular Lot

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Contemporary

Level or Stories Two

Construction Status Very Good Condition

Others

Tax ID 0200008421

Special Listing Condition None


Gulf South Real Estate Information Network (NOMAR IDX Plus)
Listed by Bridgewater Realty Advisors, LLC
Rêve Team

Rêve Team

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+1(504) 300-0700

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913 29 W MONTEREY CT

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