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3400 & 3500 Garden Oaks Drive
New Orleans, LA 70114
Auction | Jackson's Landing South Apartments · Multifamily Property For Sale
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262 Units
Investment Highlights
- AUCTION NOVEMBER 15-17, 2021 | STARTING BID $4,000,000
- Unit Mix of 46 Studios, 91 One-Bedrooms, 111 Two-Bedrooms, and 14 Three-Bedrooms.
- ±82% leased in a historically low vacancy rate sub-market creates immediate upside with lease up.
- 262-unit multi-family property spread across 28 two-story buildings.
- Renters account for 59% of the population within one-mile radius and 50% within a three-mile radius.
- NOI over $1,000,000 pre-COVID. Current rents are more than 10% below sub-market average.
Property Facts
| No. Units | 262 | Building Size | 191,099 SF |
| Property Type | Multifamily | Average Occupancy | 84% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1965/2015 |
| Building Class | C | Parking Ratio | 2.73/1,000 SF |
| Lot Size | 5.80 AC | ||
| Zoning | RM-4 | ||
| No. Units | 262 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.80 AC |
| Building Size | 191,099 SF |
| Average Occupancy | 84% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2015 |
| Parking Ratio | 2.73/1,000 SF |
| Zoning | RM-4 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Breakfast Nook
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 46 | - | 453 |
| 1+1 | 91 | - | 560 - 650 |
| 2+1 | 38 | - | 850 |
| 2+2 | 73 | - | 870 - 965 |
| 3+2 | 14 | - | 112 - 1,249 |
Property Taxes
| Parcel Number | 5-13-6-151-11 | Improvements Assessment | $653,210 |
| Land Assessment | $147,910 | Total Assessment | $801,120 |
Property Taxes
Parcel Number
5-13-6-151-11
Land Assessment
$147,910
Improvements Assessment
$653,210
Total Assessment
$801,120
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