$1,150,000

Quadruplex In Gretna

  • 6 Beds
  • 4 Baths
  • 850 Sqft
  • 13,530 Sqft lot
  • Updated: August 6
  • Source:
    Gulf South Real Estate Information Network (GSREIN)  MLS#2571072

About the Property

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
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.
  • Property type

    Other

  • Floors

    2

  • Year built

    1980

  • Price/sqft

    $1,352

Features

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913 29 W MONTEREY Court, Terrytown, Louisiana, United States View on Google Maps
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Bridgewater Realty Advisors, LLC - Metairie

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Bridgewater Realty Advisors, LLC - Metairie
Louisiana, United States
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30
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2025
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Bridgewater Realty Advisors, LLC - Metairie
Metairie, Louisiana, United States
View agency profile
Last updated
August 6
First listed
Aug 6
Listing reference
2571072
Listing status
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