All-Brick 12-Unit Multifamily
For Sale
$1,600,000
1300 S RANGE Road, Hammond, LA 70403
Twelve all-brick two-bedroom units with private storage and parking on fenced concrete grounds near downtown Hammond.
Property Size11,784 SF
Days on Market109
Property Features for 1300 S RANGE Road
General Information
Standard status
Active
Size
11,784 SF
Property subtype
Quadruplex
Additional Details
Fenced Yard
Yes
Multifamily Units
12
Building Details
Building Size
11,784 SF
Year Built
2004
Tenancy
Multi
Listing Agency:
Realty Executives Florida Parishes
(985) 320-0263
Listed By:
Sam DiVittorio · License #995688138
(985) 320-0263
Source:
Talbot-realty
Added: May 6
Changed: Aug 8
Last Checked: Aug 22 at 3:30AM
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 Realty Executives Florida Parishes
Investment Insights
Based on property information with market context.
This offering is a 12-unit residential income complex made up of two 4-plex buildings and two duplex buildings across four individual lots. The property includes a fenced, private concrete parking lot with green space. Each unit is a two-bedroom, two-bath layout and features an open floor plan, private storage room accessible from the back patio, and stucco-accented front porches with gutters. Units are all-electric with city utilities provided, including water and sewer.
The buildings are positioned at the corner of Old Covington Highway and S Range Rd, with addresses listed as 1300, 1302, 1304, and 1306 S Range Rd. The location is described as within walking distance to downtown Hammond, and it is stated to be less than 2 miles from Hammond Square Mall and I-12 access, and 2.3 miles from SLU.
Onsite amenities include a private dumpster for residents and washer-dryer laundry rooms for each unit. Kitchens are equipped with stoves, microwaves, dishwashers, and refrigerators. High-speed internet is available with multiple providers, supporting tenant connectivity needs. The property is identified as being in Flood Zone X.
The buildings are positioned at the corner of Old Covington Highway and S Range Rd, with addresses listed as 1300, 1302, 1304, and 1306 S Range Rd. The location is described as within walking distance to downtown Hammond, and it is stated to be less than 2 miles from Hammond Square Mall and I-12 access, and 2.3 miles from SLU.
Onsite amenities include a private dumpster for residents and washer-dryer laundry rooms for each unit. Kitchens are equipped with stoves, microwaves, dishwashers, and refrigerators. High-speed internet is available with multiple providers, supporting tenant connectivity needs. The property is identified as being in Flood Zone X.
Key Highlights
- 12‑unit complex built in 2004 with two 4‑plex buildings and two duplex buildings (4 lots total).
- All‑brick units with 2 bed/2 bath layouts; each unit includes a private storage room accessible from the back patio.
- Fenced, private concrete parking lot with green space; dumpsters provided onsite for residents.
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
$88,625
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
5.54%
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%
$1,772,500
$1.8M
Cap Rate 7%
$1,266,071
$1.3M
Cap Rate 9%
$984,722
$984.7K
Market Conditions
NOI Build-Up for 11,784 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
$138.6K $11.76/SF
− Vacancy
−$12.0K −$1.02/SF
EGI
$126.6K $10.74/SF
− OpEx
−$38.0K −$3.22/SF
NOI
$88.6K $7.52/SF
Area
Tangipahoa County, LA
Vacancy
8.64%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
30.00%
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%
$1,772,500
Cap Rate 7%
$1,266,071
Cap Rate 9%
$984,722
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,625 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$1.10M
$963.3K – $1.28M
NOI $77,060 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,391 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
Business Placement
Demographics for 70403, LA
29,737
Population
13,577
Households
2.2
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
42.3 sq mi
ZIP Area
703
Density / Sq Mi
$50,547
Median Household Income
$32,603
Median Earnings
$992
Median Rent
$207,600
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 - Twelve all-brick two-bedroom units with private storage and parking on fenced concrete grounds near downtown Hammond.
Where is this apartment building located?
The property is located at 1300 S RANGE Road Hammond, LA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 12‑unit complex built in 2004 with two 4‑plex buildings and two duplex buildings (4 lots total).; All‑brick units with 2 bed/2 bath layouts; each unit includes a private storage room accessible from the back patio.; Fenced, private concrete parking lot with green space; dumpsters provided onsite for residents.
