Multifamily
City Heights Garden Lane
1901 Lafayette St, Gretna, LA 70053
Listing Price: Request For Offer
Investment Overview
City Heights Garden Lane is a 261-unit garden-style multifamily asset located in Gretna, Louisiana, offering immediate scale, in-place cash flow, and meaningful upside potential. The property spans 207,012 rentable square feet across a 6-acre site and features a well-balanced mix of one-, two-, and three-bedroom units with an average size of 793 SF.
Located just minutes from downtown New Orleans, the property enjoys excellent access to the Westbank Expressway, Crescent City Connection, and a dense concentration of employers, schools, and retail. Current average rents of $1,097/unit are below market, allowing for revenue growth through light interior upgrades and operational improvements.
The asset is, supported by a strong submarket and favorable financing environment. With stable occupancy, proven yield, and a clear path to upside, City Heights Garden Lane represents an ideal opportunity for value-add investors or long-term holders seeking yield and growth in a high-demand New Orleans submarket.
City Heights Garden Lane
Investment Highlights
- 261-Unit Property with Immediate Scale: Offers significant operational efficiency and investor flexibility, supporting both value-add and long-term hold strategies.
- Under Market Rents with Upside: Current average rents of $1,097/unit ($1.38/SF) trail nearby comps averaging $1.46/SF, presenting a clear rent growth path.
- Strategic Location in Gretna, LA: Located just minutes from downtown New Orleans with proximity to major employers, retail, schools, and transportation corridors.
Listing Price: Request For Offer
Investment Highlights
- 261-Unit Property with Immediate Scale: Offers significant operational efficiency and investor flexibility, supporting both value-add and long-term hold strategies.
- Under Market Rents with Upside: Current average rents of $1,097/unit ($1.38/SF) trail nearby comps averaging $1.46/SF, presenting a clear rent growth path.
- Strategic Location in Gretna, LA: Located just minutes from downtown New Orleans with proximity to major employers, retail, schools, and transportation corridors.
Investment Overview
City Heights Garden Lane is a 261-unit garden-style multifamily asset located in Gretna, Louisiana, offering immediate scale, in-place cash flow, and meaningful upside potential. The property spans 207,012 rentable square feet across a 6-acre site and features a well-balanced mix of one-, two-, and three-bedroom units with an average size of 793 SF. Located just minutes from downtown New Orleans, the property enjoys excellent access to the Westbank Expressway, Crescent City Connection, and a dense concentration of employers, schools, and retail. Current average rents of $1,097/unit are below market, allowing for revenue growth through light interior upgrades and operational improvements. The asset is, supported by a strong submarket and favorable financing environment. With stable occupancy, proven yield, and a clear path to upside, City Heights Garden Lane represents an ideal opportunity for value-add investors or long-term holders seeking yield and growth in a high-demand New Orleans submarket.
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