Active

$999,999

For sale

6711-6817 Ta••••• Ln (Sign up for 50 free credits to unlock)New Orleans, LA 70127

170Beds

87Baths

78,100Sq Ft Living

-Sq Ft Lot

1986Year Built

Property Description

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.

Property Facts & Features

Property Type: Multi Family
Status: Active
Listed: Oct 22, 2026
Price per Sq Ft: $13/sqft
ZIP Code: 70127
Full Baths: 87
Parking: Parking Lot
Heating: Central, Central
Cooling: Central Air, Central Air
Construction: Brick
Property Tax (2026): $23,420/yr
Assessed Value: $175,460
Neighborhood: West Lake Forest
County: Orleans
School District: Sci Academy

Features & Amenities

Bedrooms

Bedrooms: 170

Bathrooms

Total Bathrooms: 87
Full Bathrooms: 87

Land Info

Lot Size Dimensions: 2.77

Utilities

Sewer: Public Sewer
Water Source: Public

Multi-Unit Info

Number of Units: 78

Garage and Parking

Parking Features: Parking Lot

Heating and Cooling

Cooling Features: Central Air, Central Air
Heating Features: Central, Central
Heating: Yes

Other Property Info

Real Estate Owned
Source Listing Status: Active
County: Orleans
Cross Street: Lake Forest Blvd.
Parcel Number: 39w016281

Building and Construction

Total Square Feet Living: 78100
Year Built: 1986
Building Area Total: 78100
Construction Materials: Brick
Foundation Details: Slab
Living Area Source: Measured
Property Age: 40
Total Area Sqft: 78100

Price & Event History

Date	Event	Price	$/Sq Ft
Oct 22, 2026	Listed	$999,999	$13
Oct 1, 2026	Price Changed	$999,999	$13
Apr 19, 2026	Listed	$1,200,000	$15
Dec 25, 2024	Sold	-	-
Dec 23, 2024	Listing removed	-	-
Sep 29, 2024	Price Changed for rent	$1,350	$1
Sep 3, 2024	Listed for rent	$1,395	$1
Oct 20, 1992	Sold	-	-
Oct 17, 1988	Sold	-	-

Property Tax History

Year	Tax	Assessed	Land	Building	Market
2026	$23,420	$175,460	$22,980	$152,480	$1,754,600
2025	$23,158	$175,460	$22,980	$152,480	$1,754,600
2024	$23,509	$175,460	$22,980	$152,480	$1,754,600
2023	$16,560	$112,800	$22,980	$89,820	$1,128,000
2022	$14,355	$102,020	$22,980	$79,040	$1,020,200
2021	$14,039	$97,530	$22,980	$74,550	$975,300
2020	$16,398	$112,800	$22,980	$89,820	$1,128,000
2019	$12,791	$84,670	$21,070	$63,600	$846,700
2018	$1,211	$7,860	$7,860	-	$78,610
2017	$1,156	$7,860	$7,860	-	$78,610
2016	$1,193	$7,860	$7,860	-	$78,610
2015	$1,168	$7,860	$7,860	-	$78,610

Nearby Schools

NR
The Upperroom Bible Church Academy
Private · Elementary, Middle · Grades K-8
0.4 mi
4/10
Abramson Sci Academy
Public · High · Grades 9-12
0.8 mi
7/10
Renew Schaumburg Elementary
Public · Elementary, Middle · Grades K-8
0.9 mi