6711-6817 Tara Lane, New Orleans, LA 70127

New Orleans
Local realty services provided by:Better Homes and Gardens Real Estate Rhodes Realty
6711-6817 Tara Lane,New Orleans, LA 70127
$1,200,000
Virtual Tour
  • - Beds
  • - Baths
  • 78,100 sq. ft.
  • Multi-family
  • Pending
Listed by: tom bookhardt, michael mito
Office: united real estate partners
MLS#:NO2554011
Source:LA_RAAMLS

Price summary

  • Price:$1,200,000
  • Price per sq. ft.:$15.36

About this home

Plaza Park Apartments is a 78-unit, Class C multifamily community offered at $1,200,000 -- representing one of the most compelling deep-value-add acquisition opportunities currently available in the greater New Orleans market. Situated on 2.77 acres in the West Lake Forest submarket of New Orleans East, the property comprises approximately 98,710 gross square feet with 76,100 rentable square feet across a mix of one-, two-, and three-bedroom units. The site is zoned S-RM2 (Suburban Multifamily) and is not located within a designated FEMA flood zone. Originally constructed in 1986, the asset has experienced significant deferred maintenance following foreclosure and is priced accordingly -- at just $15,385 per unit and $12.16 per gross square foot. For experienced value-add operators and distressed asset investors, the rehabilitation path is well-defined: estimated total CapEx of $3,950,000 yields a projected After-Repair Value of approximately $5,125,000, a stabilized NOI of $614,400,...

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Home facts

  • Listing ID #:NO2554011
  • Added:49 day(s) ago
  • Updated:June 09, 2026 at 10:20 AM

Rooms and interior

  • Living area:78,100 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Central Heat
  • Central air:Yes

Structure and exterior

  • Roof:Composition
  • Building area:78,100 sq. ft.
  • Lot area:2.77 Acres
  • Construction Materials:Brick
  • Foundation Description:Slab
  • Levels:2 Story

Finances and disclosures

  • Price:$1,200,000
  • Price per sq. ft.:$15.36

Parking

  • Parking description:Parking Lot

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