Active under contract

$495,000

1500 Madison St, Gretna, LA 70053

12beds

5,032sqft

$3,487/mo

Get pre-qualified

Multi Family, Apartment

Built in 1970

-- sqft lot

$484,000 Zestimate^®

$98/sqft

$-- HOA

What's special

Great opportunity to own a 7-unit multifamily property in Gretna with plenty of upside for investors. This one-story cinder block building includes four 2-bedroom, 1-bath units, one 2-bedroom, 1.5-bath unit, and two 1-bedroom, 1-bath units. All units feature durable tile flooring throughout for easy maintenance. Currently, 4 of the 7 units are occupied, providing immediate rental income, while the 3 vacant units offer the chance to increase cash flow by leasing them at market rates. The owner pays the water bill for the property and includes electricity in the rent for two of the units. Whether you're looking to expand your portfolio or add a value-add property with strong income potential, this is an investment worth a closer look.

52 days
7
0

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 12
Bathrooms: 8
Full bathrooms: 7
1/2 bathrooms: 1

Heating

Window Unit

Cooling

Window Unit(s)

Interior area

Total interior livable area: 5,032 sqft

Property

Parking

Parking features: Off Street

Features

Levels: One
Stories: 1
Pool features: None

Lot

Size: 9,901 Square Feet
Dimensions: 60 x 160
Features: City Lot, Rectangular Lot

Details

Parcel number: 0100003943
Special conditions: None

Construction

Type & style

Home type: MultiFamily
Architectural style: Other
Property subtype: Multi Family, Apartment

Materials

Block
Foundation: Slab
Roof: Shingle

Condition

Average Condition
Year built: 1970

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Location

Region: Gretna

Financial & listing details

Price per square foot: $98/sqft
Tax assessed value: $351,500
Annual tax amount: $2,803
Date on market: 7/28/2026
Tenant pays: Electricity

Estimated market value

$484,000

$460,000 - $508,000

$1,411/mo

Price history

Date	Event	Price
7/30/2020	Sold	--
Source: GSREIN #2243609 Report a problem
4/28/2020	Pending sale	$424,900$84/sqft
Source: GARDNER, REALTORS #2243609 Report a problem
3/10/2020	Listed for sale	$424,900$84/sqft
Source: GARDNER, REALTORS #2243609 Report a problem
3/6/2020	Pending sale	$424,900$84/sqft
Source: GARDNER, REALTORS #2243609 Report a problem
3/3/2020	Listed for sale	$424,900$84/sqft
Source: GARDNER, REALTORS #2243609 Report a problem
6/16/2016	Sold	--
Source: GSREIN #2047267 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2024	$2,803 -3.6%	$35,150
2023	$2,909 0%	$35,150
2022	$2,909 -39.1%	$35,150
2021	$4,778 +32%	$35,150 +31.2%
2020	$3,619 -1.5%	$26,790
2019	$3,675 +99.9%	$26,790
2018	$1,838	$26,790
2017	$1,838 +7.4%	$26,790 +105%
2016	$1,711	$13,070 -24.5%
2015	--	$17,320
2014	--	$17,320