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3005 Lake Villa Drive Metairie, LA $ 699,000
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$ 699,000 Get more info
3005 Lake Villa Drive
$ 699,000
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3005 Lake Villa Drive

Metairie, LA, 70002
$ 699,000
Bedrooms-- Baths-- Sq 4,580

Monthly Estimate*

$ 4,828

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Commercial Property for sale in Metairie, LA

for $699,000. This 4,580 square foot building was built in 1975 on a lot size of 0.16.

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 and buyer to due their own due diligence.

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Commercial Active

Price

$ 699,000

Property Type

Commercial

Taxes

$ 3,479

Style

Commercial

Lot Size

0.16

Year Built

1975

Town/City

Metairie

County/Region

Jefferson

MLS | Web ID

2554072
Features
General
Sewer Public Sewer
Heating Central Electric Multiple Units
Cooling Ceiling Fan(s) Central Air Multi Units
Utilities Electricity Connected Electricity Individual Meter None Sewer Connected Water Connected
Roof Shingle
Zoning R3
Security Features Carbon Monoxide Detector(s) Smoke Detector(s)
Construction Materials Brick Frame Other
Year Built 1975
Electric Circuit Breakers
Tenant Pays Electricity Internet
Stories Count 2
Property Subtype Commercial
Current Use Commercial Residential
Parcel Number 0-82-0030953
County Jefferson
New Construction N
Property Type Commercial Sale
Attached Garage N
Possible Use Commercial Residential
Status Active
Directions off Veterans between Sanford St and Rye St
City Metairie
Disclosures Covenants Conditions & Restrictions Property As Is
Number Of Units Total 6
Lot Size Units Acres
Lot Size Square Feet 6750.0
Land Lease Y/N N
Tax Annual Amount 3479.61
Lease Renewal Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://www.propertypanorama.com/instaview/roam/2554072
Standard Status Active
Occupancy Type Tenant
Year Built Source Appraiser
Cap Rate 8.5
Legal Description Lot 9 Sq 36 Sec D Lake Villa Sub
Senior Community None
Unit 6
Water Body Access Y/N None
Accessibility Features Y/N None
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Interior
Flooring Ceramic Tile
Total Stories 2
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Total Baths 0
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Exterior
Parking Features Assigned Off Street
Lot Features Other
Water Source Public
Inclusions Building Land
Lot Size Area 0.16
Spa N
Building Area Total 4580.0
Lot Dimensions 50x135
Lot Size Acres 0.16
Waterfront Y/N N
Number of Separate Water Meters 1
Number of Separate Gas Meters 0
Number of Separate Electric Meters 6
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 3005
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* Excluded Features
List By
Lori Scott

Listing Agent

Affordability Calculator

$5,118
Per Month
94%
6%
0%
Monthly Principal & Interest
$4,828
Monthly Property Taxes
$290
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
5583192 Elementary School
5584917 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
10/16/2026$699,000 -0.14% Price Down
10/13/2026$700,000 Listed Price

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3005 Lake Villa Drive, Metairie, LA, 70002 is a Commercial Property for sale at $699,000 with 4,580 sqft and a lot size of 0.16. 3005 Lake Villa Drive was built in 1975. The property's zip code is 70002 which is in Metairie, LA

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