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14859495
14859501

4289 Lac Saint Pierre Dr, Harvey, LA 70058

MM
LA LA9705
Bridgewater Realty Advisors
BM
LA LA 995705186
Bridgewater Realty Advisors
Listed by Bridgewater Realty Advisors
$2,500,000
851 days on market
Updated 42 days ago

98% Occupied Apartment Complex

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 76,400
Units 72
Cap Rate 12.75%
NOI $318,772
Occupancy 98%
Pro-Forma Cap Rate 17.52%
Pro-Forma NOI $438,092
Price per SqFt $33
Broker Co-Op Yes
Class B
Year Built 1985
Buildings 4
Stories 2
Lot Size (SqFt) 65,000
Investment Type Value Add

Seller Financing, 5.00% interest rate, $850k down

Marketing description

Introducing 4289-93 Lac St. Pierre Drive, a multi-family property located in Harvey, LA. This well-maintained complex consists of a mix of 2 bed 1.5 bath units and 2 bed 2 bath units and includes 4 parcels of vacant land to build additional units. Based on market rent comparables included in this OM, there is room to increase rental rates to $1,350/mo.

Harvey is a highly desirable market for both renters and investors alike. Multifamily properties in Harvey generally experience lower turnover and rent out extremely quick and 4289-93 Lac St. Pierre Drive is no exception. Currently, rents are positioned below the local market rates, leaving room for a new owner to strategically increase rental income without the need for extensive renovations.

Property amenities include a well-kept swimming pool, tennis court, washer & dryers in each unit, and ample parking for tenants. In sum, 4289-93 Lac St. Pierre Drive represents an extraordinary investment prospect, offering a harmonious blend of location, potential, and quality, making it an ideal addition to your real estate portfolio.

Investment highlights

Listing Contacts

MM
LA LA9705
Bridgewater Realty Advisors
BM
LA LA 995705186
Bridgewater Realty Advisors
Listed by Bridgewater Realty Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$318,772.00
$26,564.33/mo

Valuation Metrics

0
DSCR
12.75%
Cap Rate
12.75%
ROI

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Additional Information

Name
Mason Mccullough
License
LA9705
Brokerage Phone
5042985547
Brokerage Address
3501 Severn Avenue
Name
Bryce Marullo
License
LA 995705186
Brokerage
Bridgewater Realty Advisors
Brokerage Phone
5049010463
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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