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Woodbridge Apartments
2216 Glasgow Drive Harvey, LA 70058
Overview
Woodbridge Apartments is a 26 unit apartment complex in Harvey, LA. The property is 96% occupied, and very well maintained by local ownership. 7.9% Cap Rate on full asking price. Property is continually increasing NOI month over month, with T6 income annualized to an NOI of $164,496 (8.9% Cap Rate on full asking price). There is additional value add via rent increases both via traditional market rate and government subsidized housing. Jefferson Parish Housing Standards has a FMR of $1,236 for 1 BR units for 2025 (~$200 rent premium).
Attachments
For Sale
Multifamily
Secondary Uses: Low Rise
- Sale Price
- $1,850,000
- Price Per SF
- $101.6/SF
- Cap Rate
- 7.48%
- Building Size
- 18,200 SF
- Acres
- 1.14 ac
- Zoning
- R-1 AND C-1 / R-1A
- Net Operating Income
- $138,463
- Number of Buildings
- 2
- Floors
- 2
- Year Built
- 1985
- Construction Siding
- Wood
- Rentable SF
- 35,545
- Submarket
- Westbank
- Nearest MSA
- New Orleans-Metairie
- Property Status
- Existing
- County
- Jefferson
- Available
- 2025-03-10
- Created
- 2025-03-10
- Updated
- 2025-06-13
- Listing ID
- b409428f
- Parcel APN
- 0300009979|4