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6711-6817 TARA LN, New Orleans, LA 70127
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6711-6817 TARA LN, New Orleans, LA 70127
6711-6817 TARA LN, New Orleans, LA 70127
6711-6817 TARA LN, New Orleans, LA 70127
6711-6817 TARA LN, New Orleans, LA 70127
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Elizabeth A. Charvat

Elizabeth A. Charvat

+1(504) 444-4808
$ 1,200,000
Est. payment /mo
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6711-6817 TARA LN New Orleans, LA 70127

170 Beds

87 Baths

78,100 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 78,100 sqft

Price per Sqft $15

MLS Listing ID 2554011

Style Other

Bedrooms 170

Full Baths 87

Construction Status Average Condition

HOA Y/N No

Year Built 1986

Property Sub-Type Other

Property Description

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, and an equity creation potential of nearly $4,000,000. A stabilization timeline of 18 to 24 months post-acquisition is considered reasonable.

Location

State LA

County Orleans

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features Parking Lot

Pool None

Water Access Desc Public

Roof Type Shingle

Building

Lot Description Outside City Limits, Rectangular Lot

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Other

Level or Stories Two

Construction Status Average Condition

Others

Tax ID 39w016281

Special Listing Condition Real Estate Owned

Virtual Tour https://www.corelistingmachine.com/tour/titan/?id=9145991&version=unbranded&

Gulf South Real Estate Information Network (NOMAR IDX Plus)
Listed by United Real Estate Partners LLC
Elizabeth A. Charvat

Elizabeth A. Charvat

Rêve | Realtor | License ID: 0995687126

+1(504) 444-4808

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6711-6817 TARA LN