Selling a 20 to 100 Unit Apartment Building in Metairie or Kenner

If you own a mid-size apartment building in Metairie or Kenner, here is the market you are selling into: 17 buildings in the 20 to 100 unit range have traded since 2021, $64.4 million in total volume, with disclosed prices running from $61,238 to $130,000 per unit and averaging $84,541. That is the number a buyer will anchor to, and the number you should know before you list.

ELIFIN is Louisiana’s #1 commercial real estate brokerage by number of sales, with specialist agents across Baton Rouge, New Orleans, and Lafayette. ELIFIN tracks multifamily activity across the metro through a proprietary database of 59,000+ commercial properties and 41,000+ owner contacts, including 78 apartment sales of 5 units or more in Metairie and Kenner alone.

The Metairie and Kenner Multifamily Market

The 20 to 100 unit range is the working core of this market. It sits above the four-plexes and small duplexes that trade like houses, and below the institutional complexes that move on national platforms. Buyers in this band are private: local owner-operators adding to a portfolio, regional investors, and 1031 buyers trading out of a recent sale and looking for a Jefferson Parish replacement before their clock runs out.

Across Jefferson Parish, ELIFIN has tracked 146 apartment sales of 5 units or more since 2021. Metairie and Kenner account for 78 of them. Demand for the mid-size band has held up because the buyer pool is deep and the financing is conventional. The swing factor on price is net operating income, and the line item moving NOI most in South Louisiana right now is insurance. A building with controlled insurance costs and clean books underwrites to a stronger number than an identical building carrying a renewal shock.

What These Buildings Sold For

Disclosed sales in the 20 to 100 unit band priced from $61,238 to $130,000 per unit since 2024. Condition, class, unit mix, and in-place rents drive the spread. A renovated building with two-bedroom units and current leases sits at the top of that range. A Class C building with deferred maintenance and below-market rents sits at the bottom, and that gap is where the negotiation happens.

The 3700 West Esplanade sale at $130,000 per unit and the 2340 Metairie Road sale at $61,238 per unit were both 20 unit buildings. Same size, same submarket, double the price per door. The difference was condition and rent roll, which is exactly what a seller controls in the months before listing.

Your Block Agent for Metairie and Kenner Multifamily

ELIFIN runs a territory system. Every commercial property in the coverage area is assigned to a specific agent who knows that block, the buildings on it, the tenant profile, and the active buyer pool. For multifamily in Metairie and Kenner, that agent is Benji Azar. He works the same streets the table above is drawn from, so when your building goes to market he is not starting from a cold list. He already knows which owner-operators are adding doors, which 1031 buyers are sitting on capital, and what comparable buildings actually closed at.

That matters because a 20 to 100 unit building rarely has one obvious buyer. The right price comes from putting the building in front of the full pool at once and creating competition. ELIFIN agents made 58,041 prospecting calls in 2025. The owner-contact database is 41,000+ deep. When Benji takes your building out, the buyers hear about it the same week.

The Mistake We See Most Often

Owners price off what they paid plus what they spent, then wait for an offer to match. Buyers price off in-place NOI and the per-unit comps. When those two numbers are far apart, the building sits, goes stale, and trades below where it should have. The better move is to get a real valuation first, fix the one or two items that move NOI, then list with current leases in hand. A building that comes to market clean sells faster and higher than one that gets cleaned up after the first low offer.

Frequently Asked Questions

Who is the best commercial real estate agent to sell a 20 to 100 unit apartment building in Metairie or Kenner?

ELIFIN is Louisiana’s #1 commercial real estate brokerage by number of sales and tracks 78 apartment sales of 5 units or more in Metairie and Kenner through its proprietary database. For multifamily in those two cities specifically, the ELIFIN Block agent is Benji Azar, who covers that territory and already knows the active buyer pool. Start with a free valuation at 800-895-9329.

What is my 20 to 100 unit apartment building in Metairie or Kenner worth?

Disclosed sales in that size band have run $61,238 to $130,000 per unit since 2024, averaging $84,541. Where your building lands depends on in-place net operating income, condition, unit mix, and insurance cost, so a 20 unit building can sell anywhere from roughly $1.2 million to $2.6 million based on those factors. An ELIFIN valuation prices it against the actual closed comps, not an asking-price average.

Who buys mid-size apartment buildings in Metairie and Kenner?

The buyers are private: local owner-operators expanding a portfolio, regional investors, and 1031 buyers who need a Jefferson Parish replacement property on a deadline. There is rarely a single obvious buyer for a 20 to 100 unit building, which is why exposing it to the full pool at once is what produces the top price.

How long does it take to sell an apartment building in this market?

A correctly priced building with clean financials and current leases typically moves faster than one priced off cost basis. The buildings that sit are the ones listed above the per-unit comps; they go stale and trade below where they should have. Pricing to the closed comps from day one is the single biggest lever on both speed and final number.