Multifamily
River Park Apartments
15909 River Rd, Hahnville, LA 70057
Listing Price: $6,520,000
Investment Overview
River Park Apartments is a 50-unit garden-style multifamily community located at 15909 River Rd in Hahnville, Louisiana. The property contains 43,300 rentable square feet on 4.11 acres, was originally built in 1966, and was fully renovated in 2022. River Park is a low-rise, masonry-constructed community with strong physical utility, surface parking, and on-site laundry.
The property is offered at $6,520,000, equating to $130,400 per unit and $150.58 per SF, with an in-place NOI of $521,617 and a current cap rate of 8.00%. The rent roll reflects a mix of 1-, 2-, and 3-bedroom units with an average unit size of 866 SF and average monthly rent of $1,079.
The story here is a renovated workforce-housing asset with immediate cash flow and land-backed upside. In addition to the completed renovation program, there are extra adjacent parcels for expansion or amenity enhancement, while the location map ties the asset to major petrochemical, medical, and regional employment centers throughout the New Orleans metro. For investors seeking current income with optionality, River Park stands out as a stabilized and cash-flow-oriented opportunity.
River Park Apartments
Investment Highlights
- Fully renovated 50-unit multifamily asset in Hahnville with renovations completed in 2022, offering a more turnkey profile with no deferred maintenance.
- Large 43,300 SF community on 4.11 acres with 75 surface parking spaces, masonry construction, and on-site laundry facilities.
- Additional adjacent land included for potential expansion, amenity additions, parking enhancement, or future monetization opportunities.
- Located in an Opportunity Zone with access to major regional employers including Shell Norco, Valero, Marathon, and nearby healthcare and university demand drivers.
Listing Price: $6,520,000
Investment Highlights
- Fully renovated 50-unit multifamily asset in Hahnville with renovations completed in 2022, offering a more turnkey profile with no deferred maintenance.
- Large 43,300 SF community on 4.11 acres with 75 surface parking spaces, masonry construction, and on-site laundry facilities.
- Additional adjacent land included for potential expansion, amenity additions, parking enhancement, or future monetization opportunities.
- Located in an Opportunity Zone with access to major regional employers including Shell Norco, Valero, Marathon, and nearby healthcare and university demand drivers.
Investment Overview
River Park Apartments is a 50-unit garden-style multifamily community located at 15909 River Rd in Hahnville, Louisiana. The property contains 43,300 rentable square feet on 4.11 acres, was originally built in 1966, and was fully renovated in 2022. River Park is a low-rise, masonry-constructed community with strong physical utility, surface parking, and on-site laundry. The property is offered at $6,520,000, equating to $130,400 per unit and $150.58 per SF, with an in-place NOI of $521,617 and a current cap rate of 8.00%. The rent roll reflects a mix of 1-, 2-, and 3-bedroom units with an average unit size of 866 SF and average monthly rent of $1,079. The story here is a renovated workforce-housing asset with immediate cash flow and land-backed upside. In addition to the completed renovation program, there are extra adjacent parcels for expansion or amenity enhancement, while the location map ties the asset to major petrochemical, medical, and regional employment centers throughout the New Orleans metro. For investors seeking current income with optionality, River Park stands out as a stabilized and cash-flow-oriented opportunity.
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