Eight-Unit Cottage Apartment
For Sale
$795,000
11581 AMI Lane, Hammond, LA 70401
Multi-Family, Cottage, Hammond, LA
Property Size7,200 SF
Lot Size2.81 Acres
Price / SF$110.42
Days on Market324
Property Features for 11581 AMI Lane
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Patio and Porch features
Porch
Exterior features
Porch Screened In
Subdivision
Not a Subdivision
Lot features
1-5 Acres, Oversized
Standard status
Active
APN
05336104
Size
7,200 SF
Lot size
2.81 Acres
Taxes and HOA fees
Tax Description
2.81A BEING PORT OF TRACT 6 OF PART IN SEC 18 T6SR7E
Legal Description
2.81A BEING PORT OF TRACT 6 OF PART IN SEC 18 T6SR7E
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer hookups
screened-in back patios
Building Details
Year built
2002
Floors in Building
1
Number of units
8
Roof type
Asphalt, Shingle
Architectural style
Cottage
Listing Agency:
Elite Real Estate Advisors · Century 21 Real Estate
(985) 542-7601
Listed By:
Sergio Mesa · License #912124506
(504) 390-5229
Added: Nov 10, 2025
Changed: Sep 16
Last Checked: Sep 30 at 11:06PM
MLS# 2528391
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 8-unit apartment property at 11581 Ami Lane includes 7,200 square feet across duplex buildings constructed in 2002. Each residence has 2 bedrooms, 2 bathrooms, and washer/dryer hookups, with screened-in rear porches serving the individual units. Improvements feature vinyl siding, asphalt shingle roofs, concrete slab foundations, central heating, and central air conditioning. Concrete parking spaces and gravel drives support on-site circulation and resident parking.
The 2.81-acre property is in Hammond, with access to Interstate 55 and Interstate 12 for travel toward Baton Rouge and New Orleans. Southeastern Louisiana University, local schools, Hammond Square Mall, grocery stores, restaurants, parks, and medical facilities are identified in the surrounding area. Utilities include public water service and a septic sewer system. The site is fully occupied and offers additional acreage for potential expansion as described in the property information.
The 2.81-acre property is in Hammond, with access to Interstate 55 and Interstate 12 for travel toward Baton Rouge and New Orleans. Southeastern Louisiana University, local schools, Hammond Square Mall, grocery stores, restaurants, parks, and medical facilities are identified in the surrounding area. Utilities include public water service and a septic sewer system. The site is fully occupied and offers additional acreage for potential expansion as described in the property information.
Key Highlights
- 8 fully occupied units, each with 2 bedrooms, 2 bathrooms, and washer/dryer hookups
- 7,200 square feet on 2.81 acres
- Duplex buildings constructed in 2002 with vinyl siding and asphalt shingle roofs
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
5.92%
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 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.74M – $2.32M
NOI $138,935 @ 7.0% cap · market cap 17.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Fully occupied cottage-style apartments with private screened porches, central HVAC, and resident washer/dryer hookups.
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 $795,000.
What are key features of this property?
This property features: 8 fully occupied units, each with 2 bedrooms, 2 bathrooms, and washer/dryer hookups; 7,200 square feet on 2.81 acres; Duplex buildings constructed in 2002 with vinyl siding and asphalt shingle roofs
