3005 Lake Villa Drive 6, Metairie, LA 70002
sale
$699,000
|
Other
Courtesy Of HODC LLC dba Keller Williams Realty New Orleans
With taxes included, total expenses are $18,309/yr. Current cap rate: 8.50% ($59,391 NOI) Pro forma cap rate: 10.69% ($74,691 NOI) INVESTMENT OPPORTUNITY IN METAIRIE! Great 6-plex in a wonderful location. Six units: five 2 bed/1 bath and one 1 bed/1 bath, currently the manager's unit. Currently UNDER RENTED at $6,125/month with room to grow (pro forma rent $7,400/month). Tenants pay electric; owner pays water (approx. $500/month). Coin-operated washers and dryers on site at rear of building ($350/month income). Each unit has an assigned parking lane holding 2 cars. All underground plumbing replaced a few years ago. Easy access to the interstate, Veterans Hwy, bus stops, restaurants, and groceries. Property tax $3,251 / Flood insurance $2,038 / Property insurance $5,928 / Liability $1,092. Current gross income: $6,475/month, $77,700/year including laundry. 8.50% cap rate. Pro forma gross income: $7,750/month, $93,000/year including laundry. 10.69% pro forma cap rate. Buyer's agent and buyer to due their own due diligence.
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Property Features
- Age: Over 50 Years Old
- Amenities: Ceiling Fan
- Building Units: 6
- Cooling System: Multi Units
- Cooling System: Ceiling Fan(s)
- Cooling System: Central Air
- Exterior Type: Brick
- Exterior Type: Frame
- Floor Covering: Tile - Ceramic
- Floors: 2
- Heating System: Electric (Heating)
- Heating System: Central
- Legal Description: Lot 9 Sq 36 Sec D Lake Villa Sub
- MLSID: 2554072
- Roof Type: Shingle
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