Occupied Apartment Building with Expansion
For Sale
$824,500
11581 Ami Lane, Hammond, LA 70401
Eight-unit apartment property with duplex construction, resident patios, on-site parking, and convenient Interstate access.
Property Size7,200 SF
Lot Size2.81 Acres
Price / SF$114.51
Days on Market398
Property Features for 11581 Ami Lane
General Information
Standard status
Active
Size
7,200 SF
Lot size
2.81 Acres
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
8 x 2BR/2BA
Multifamily Units
8
Amenities
washer/dryer hookups
screened-in back patios
Central Air
Central
1
16
In unit
Asphalt
Slab: Traditional
Vinyl Siding
Porch
Building Details
Year Built
2002
Construction
duplex
Listing Agency:
Elite Real Estate Advisors
(504) 390-5229
Listed By:
Sergio Mesa · License #912124506
(504) 390-5229
Source:
Compass
Added: Jul 31, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Elite Real Estate Advisors
Investment Insights
Based on property information with market context.
This 7,200-square-foot apartment property contains 8 fully occupied units arranged in duplex buildings. Each residence offers 2 bedrooms, 2 bathrooms, washer/dryer hookups, central air, and a screened-in back patio. The improvements were built in 2002 on concrete slabs and feature vinyl siding, asphalt shingle roofs, concrete parking areas, and gravel access roads.
The property occupies 2.81 acres in Hammond, with parish water service and a septic sewer system. Interstate 55 and Interstate 12 are nearby, providing connections toward Baton Rouge and New Orleans. Southeastern Louisiana University, local schools, Hammond Square Mall, grocery stores, dining, parks, recreational amenities, and medical facilities are also identified in the surrounding area.
The site includes land described as supporting future expansion, while the current configuration provides an established eight-unit multifamily operation.
The property occupies 2.81 acres in Hammond, with parish water service and a septic sewer system. Interstate 55 and Interstate 12 are nearby, providing connections toward Baton Rouge and New Orleans. Southeastern Louisiana University, local schools, Hammond Square Mall, grocery stores, dining, parks, recreational amenities, and medical facilities are also identified in the surrounding area.
The site includes land described as supporting future expansion, while the current configuration provides an established eight-unit multifamily operation.
Key Highlights
- 8 fully occupied apartment units
- Each unit includes 2 bedrooms, 2 bathrooms, and washer/dryer hookups
- 7,200 SF property on 2.81 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,083
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$941,660
$941.7K
Cap Rate 7%
$672,614
$672.6K
Cap Rate 9%
$523,144
$523.1K
Market Conditions
NOI Build-Up for 7,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$94.2K $13.08/SF
− Vacancy
−$8.6K −$1.19/SF
EGI
$85.6K $11.89/SF
− OpEx
−$38.5K −$5.35/SF
NOI
$47.1K $6.54/SF
Area
Tangipahoa County, LA
Vacancy
9.10%
Lease Rate
$13.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$941,660
Cap Rate 7%
$672,614
Cap Rate 9%
$523,144
Alternative Uses
Best Use
Apartment 5plus
$672.6K
$588.5K – $784.7K
NOI $47,083 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.74M – $2.32M
NOI $138,935 @ 7.0% cap · market cap 16.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 70401, LA
21,014
Population
10,321
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
88%
High-School Grad
34.7 sq mi
ZIP Area
606
Density / Sq Mi
$50,995
Median Household Income
$31,405
Median Earnings
$977
Median Rent
$226,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit apartment property with duplex construction, resident patios, on-site parking, and convenient Interstate access.
Where is this apartment building located?
The property is located at 11581 Ami Lane Hammond, LA.
What is the asking price?
The asking price for this property is $824,500.
What are key features of this property?
This property features: 8 fully occupied apartment units; Each unit includes 2 bedrooms, 2 bathrooms, and washer/dryer hookups; 7,200 SF property on 2.81 acres
