3005 Lake Villa Drive, Metairie, LA 70002

Metairie
Local realty services provided by:Better Homes and Gardens Real Estate Rhodes Realty
3005 Lake Villa Drive,Metairie, LA 70002
$699,000
Virtual Tour
  • 11 Beds
  • 6 Baths
  • 4,580 sq. ft.
  • Multi-family
  • Active
Listed by: lori scott
Office: keller williams realty new orleans
MLS#:2554628
Source:ROAM

Price summary

  • Price:$699,000
  • Price per sq. ft.:$152.62

About this home

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...

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Home facts

  • Year built:1975
  • Subdivision & Development:Lake Villas
  • Listing ID #:2554628
  • Added:201 day(s) ago
  • Updated:November 12, 2026 at 04:13 PM

Rooms and interior

  • Bedrooms:11
  • Total bathrooms:6
  • Full bathrooms:6
  • Living area:4,580 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Central

Structure and exterior

  • Year built:1975
  • Building area:4,580 sq. ft.
  • Lot area:0.15 Acres
  • Construction Materials:Brick, Frame
  • Foundation Description:Slab

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$699,000
  • Price per sq. ft.:$152.62
  • Tax amount:$3,251

Parking

  • Parking description:Assigned, Off Street, Parking Lot

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