offering overview - loopnet · for sale multifamily woodcrest & woodbridge apartments. 430...

OFFERING OVERVIEW57 Unit West Jefferson Portfolio

Monroe St & Cook St, Gretna, LA | Glasgow Dr, Harvey, LA

For Sale

MultifamilyWoodcrest & Woodbridge Apartments

430 Notre Dame StreetNew Orleans, LA 70130504 525 1311 tellatterblum.com

Portfolio OverviewThe 57 Unit West Jefferson Multifamily Portfolio which

includes the Woodbridge and Woodcrest Apartments

present a Unique Opportunity to Purchase Two (2)

Stablized, Conveniently Co-Located, Medium Sized

Apartment Communities in a Historically Stable Greater

New Orleans Submarket.

Woodbridge Apartments (26 Units - Harvey) are situated

on a cul-de-sac/corner of a neighborhood that consists

of mostly single-family homes. All units are One (1)

Bedroom and One (1) Bathroom Dwellings. Woodcrest

Apartments (31 Units - Gretna) are Studio Style Dwellings

with the added benefit of easy to maintain Cinder-Block

construction and solid surface flooring.

SALE PRICE: $2,600,000

NUMBER OF UNITS: 57

CAP RATE: 8.72%

GRM: 6.59

2019 NOI: $226,675

LOT SIZE: 49,650 SF

BUILDING SIZE: 35,545 SF

ZONING: R-1 / C-1 / R-1A

MARKET: New Orleans (MSA)

SUB MARKET:Westbank of JeffersonParish

CROSS STREETS:

Franklin Ave. / MadisonSt. / 4th St. -Scottsdale Drive /Clydesbank Drive

Executive Summary

Woodcrest Apartments - Gretna• Minutes from Downtown New Orleans, and, All Westbank

Major Thoroughfares

• Walking Distance to Multiple Community Assets thatInclude: EducationalInstitutions, Religious Facilities, GroceryAnchored/Big Box Shopping Centers,and a Multitude ofFood & Beverage Options

• Fully Renovated in 2013 with Stabilization Shortly Thereafter

• 2013's Renovation Improvements Totaling appprox.$150,000

• Current Occupancy 95%

• $1.1M Offering Price w/ 2019's NOI Provided an UnleveredReturn of +/-9.34%

Woodbridge Apartments - Harvey• Minutes to Downtown New Orleans and Five Blocks from

Manhattan Blvd

• Geographically Located in the Center of the Westbank andStrategically Positioned to Nearby Economic Drivers/Community Attractions

• Fully Renovated in 2015 with Stabilization Shortly Thereafter

• Above Average Quality Finishes Throughout Property

• Excellent Ingress and Egress for Off Street Parking

• Strong Historical Performance Since Repositioning

• Current Occupancy 88%

• $1.5M Offering Price w/ 2019's NOI Provided an UnleveredReturn of +/-8.26%

Multifamily Portfolio Sale

West JeffersonWoodcrest | Woodbridge


Investment Overview 57 UNIT MULTIFAMILY PORTFOLIO

Price $2,600,000

Number of Units 57

Price per Unit $45,614

Approximate Square Footage 35,545

Price per Square Footage $73

GRM 6.59

CAP Rate 8.72%

2019 Operating Data | Pro Forma

Gross Operating Income $394,654

Operating Expenses -$167,978

Net Operating Income $226,675Debt Service - $133,407

Pre-Tax Cash Flow $93,268

Cash-on-Cash Return % (yr 1) 14.35%

Principal Reduction (yr 1) + $41,681

Financing Assumptions

Loan Amount $1,950,000

LTV 75.00%

Interest Rate 4.750%

Debt Service $133,407

Debt Service Monthly $11,117

Amortization 25

Financing Options are Subject to Change per Individual Investor.

Multifamily Portfolio Sale

2019 Financials & Pro Forma57 Units | West Jefferson (Gretna & Harvey)


57 Unit West JefferdonPortfolio

1425 Monroe St @ 617 & 720 Cook St | 2216 Glasgow DrGretna | Harvey, Louisiana

The information contained in the following Investment Summary is proprietary and strictly confidential. It is intended to be

reviewed only by the party receiving it from NAI Latter & Blum Investment Real Estate Brokerage and should not be made

available to any other person or entity without the written consent of Broker. This Investment Summary has been prepared

to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in

the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Broker

has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the

subject property, the future projected financial performance of the property, the size and square footage of the property

and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State

and Federal regulations, the physical condition of improvements thereon, or the financial condition or business prospects

of any tenant, or any tenant’s plans or intentions to continue occupancy of the subject property.

The information contained in the Marketing Brochure has been obtained from sources we believe to be reliable; however,

Broker has not verified, and will not verify, any of the information contained herein, nor has Broker conducted any

investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or

completeness of the information provided. All potential purchasers must take appropriate measures to verify all of the

information set forth herein.

For more informationRyan Pearce, Commercial Sales & LeasingO: 504 569 9439 | C: 504 444 [email protected] | LA #0995682184

Paul Richard, Commercial Sales & LeasingO: 504 569 9329 | C: 504 957 [email protected]


offering overview - loopnet · for sale multifamily woodcrest & woodbridge apartments. 430...

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