Skip to content

70046 4th StreetCovington, LA 70433

Tammany Hills · St Tammany County

$2,260,000List price
19,468Sq Ft
2003Year built
1.63Acre lot
6 months agoOn market

Description

Offered at $2,260,000, this 11-property single-family rental portfolio is a stabilized income investment in Covington, Louisiana, one of the most sought-after residential markets on the Northshore of Lake Pontchartrain. All 11 homes are 3 bedroom, 2 bathroom properties ranging from 1,330 to 1,554 square feet and were built between 2003 and 2016. All 11 properties are located within the same neighborhood, offering an investor operational efficiency PLUS a proven rental track record. Over the last two years, the portfolio generated an NOI of approximately $150,000 to $160,000. It is priced at a 7% cap rate based on the 2025 NOI with gross rents totaling $230,000+. Tenants are long-term and stable, keeping vacancy and turnover costs low and providing reliable cash flow from acquisition. Individual property values are estimated between $210,000 and $240,000. Located in St. Tammany Parish, the portfolio sits within one of Louisiana's strongest demographic and economic submarkets, a market with a 2024 population over 278,000, median household income of nearly $80,000, and consistent annual growth across population, households, and income. Covington serves as the parish's corporate hub, home to Fortune 500 companies and anchored by major healthcare employers including St. Tammany Parish Hospital and Ochsner Medical Center. With top-rated public and private schools, low crime, and easy access to New Orleans via the Causeway, the Northshore consistently attracts quality, long-term residents, making it a highly reliable rental market for this portfolio's continued performance.

Property Information

Property type
Commercial Sale
Structure type
Mixed Use
Year built
2003
Living area
16,118 Sq Ft
Lot size
1.63 acres
Lot dimensions
70834
Zoning
RES
Days on market
193
MLS® Listing#
2548681

Property Features

Parking
Off Street
Lot features
City Lot · Rectangular Lot
Construction
Brick · Stucco
Sewer
Public Sewer
Water source
Public
Parcel number
1071407894

Listing Courtesy: SRSA Residential, Inc. - 5048312363

Information contained on this site is believed to be reliable; yet, users of this web site are responsible for checking the accuracy, completeness, currency, or suitability of all information. Neither the New Orleans Metropolitan Association of REALTORS®, Inc. nor the Gulf South Real Estate Information Network, Inc. makes any representation, guarantees, or warranties as to the accuracy, completeness, currency, or suitability of the information provided. They specifically disclaim any and all liability for all claims or damages that may result from providing information to be used on the web site, or the information which it contains, including any web sites maintained by third parties, which may be linked to this web site. The information being provided is for the consumer’s personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties which consumers may be interested in purchasing. The user of this site is granted permission to copy a reasonable and limited number of copies to be used in satisfying the purposes identified in the preceding sentence. By using this site, you signify your agreement with and acceptance of these terms and conditions. If you do not accept this policy, you may not use this site in any way. Your continued use of this site, and/or its affiliates’ sites, following the posting of changes to these terms will mean you accept those changes, regardless of whether you are provided with additional notice of such changes. Copyright 2026 New Orleans Metropolitan Association of REALTORS®, Inc. All rights reserved. The sharing of MLS database, or any portion thereof, with any unauthorized third party is strictly prohibited.

Connect with a Local Real Estate Expert