6711-6817 TARA Lane, New Orleans, LA 70127
$1,200,000
Property Type:
MultiFamily
Square Footage:
78,100
Status:
Active
Current Price:
$1,200,000
List Date:
4/16/2026
Last Modified:
4/21/2026
Listing Details MLS# NO2554011
Listing Info
- Delayed Marketing
- No
- Listing Price
- 1200000
- List Price/SqFt
- 15.36
- Document Modified
- 2026-04-20 17:02:09.977876
- Modification Timestamp
- 2026-04-21T14:34:15Z
- Photo Modified
- 2026-04-20T22:17:36Z
Location Tax Legal Info
- Street Number
- 6711-6817
- Street Name
- TARA Lane
- Parish
- Orleans
- State
- LA
- Zip Code
- 70127
- Tax Assessment Number
- 39w016281
- Directions
- Bounding Streets: Lake Forest Blvd.
General Property Description
- Number of Units
- 78
- Stories
- 2
- SqFt - Total
- 78100
- SqFt - Source
- Measured
- Lot Dimensions
- 2.77
Originating Details
- Originating System ID
- ROAMM
- Originating System Key
- 57835172
- Originating System Listing ID
- 2554011
- Originating System Name
- ROAM Matrix
Location, Tax & Legal Info
- Legal Desc
- As per title
Remarks & Misc
- Remarks
- Plaza Park Apartments is a 78-unit, Class C multifamily community offered at $1,200,000 -- representing one of the most compelling deep-value-add acquisition opportunities currently available in the greater New Orleans market. Situated on 2.77 acres in the West Lake Forest submarket of New Orleans East, the property comprises approximately 98,710 gross square feet with 76,100 rentable square feet across a mix of one-, two-, and three-bedroom units. The site is zoned S-RM2 (Suburban Multifamily) and is not located within a designated FEMA flood zone. Originally constructed in 1986, the asset has experienced significant deferred maintenance following foreclosure and is priced accordingly -- at just $15,385 per unit and $12.16 per gross square foot. For experienced value-add operators and distressed asset investors, the rehabilitation path is well-defined: estimated total CapEx of $3,950,000 yields a projected After-Repair Value of approximately $5,125,000, a stabilized NOI of $614,400, and an equity creation potential of nearly $4,000,000. A stabilization timeline of 18 to 24 months post-acquisition is considered reasonable.
More Information
Office/Member/Contract Info
- List AOR
- NOMAR
Parking
- Parking Lot
- Yes
Construction
- Brick
- Yes
- Other
- Yes
Foundation
- Slab
- Yes
Roof
- Composition
- Yes
Heating
- Central
- Yes
Cooling
- Central Air
- Yes
Property Features
Parking:
Parking Lot
Construction:
Brick; Other
Foundation:
Slab
Roof:
Composition
Heating:
Central
Cooling:
Central Air
Documents
Offering Memorandum ›
IDX
Listing Office:
United Real Estate Partners LLC
Last Updated: April - 21 - 2026
The data relating to real estate for sale or lease on this website comes in part from the IDX program of the REALTOR® Association of Acadiana MLS. The IDX information is provided exclusively for consumers’ personal, non-commericial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.