12-Unit Apartment
1300 S Range Road, Hammond, LA 70403
For Sale
$1,600,000
Four buildings on separate lots offer two-bedroom layouts, private storage, and a shared fenced parking area.
Property Size11,784 SF
Price / SF$135.78
Days on Market185
Property Features for 1300 S Range Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Amenities
private storage rooms
washer-dryer laundry rooms
high-speed internet
Building Details
Building Size
Year Built
Buildings
Units
Construction
Listing Agency:
Florida Parishes Realty, L.L.C.
(985) 956-7477
Listed By:
Sam N DiVittorio · License #995688138
(985) 320-0263
Source:
Cypresskeyrealty
Added: May 6
Changed: Nov 6
Last Checked: Nov 6 at 2:45PM
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 Florida Parishes Realty, L.L.C.
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Investment Insights
Based on property information with market context.
This 11,784-square-foot apartment property contains 12 units across four buildings: two fourplexes and two duplexes on four lots. Each residence has two bedrooms, two bathrooms, an open-plan layout, and a dedicated laundry room. Kitchens include a stove, microwave, dishwasher, and refrigerator. Private storage rooms are accessed from the rear patios. The all-brick buildings were constructed in 2004 and have covered front porches with stucco accents. City water and sewer serve the all-electric units; a private dumpster is also on site.
The property occupies a corner at Old Covington Highway and South Range Road in Hammond. Downtown Hammond is within walking distance, Hammond Square Mall and I-12 are less than 2 miles away, and Southeastern Louisiana University is 2.3 miles away. The site is in Flood Zone X.
The property occupies a corner at Old Covington Highway and South Range Road in Hammond. Downtown Hammond is within walking distance, Hammond Square Mall and I-12 are less than 2 miles away, and Southeastern Louisiana University is 2.3 miles away. The site is in Flood Zone X.
Key Highlights
- 12 apartments, each with 2 bedrooms and 2 bathrooms
- Two fourplexes and two duplexes occupy four separate lots
- 11,784 square feet; buildings constructed in 2004
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,060
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,541,200
$1.5M
Cap Rate 7%
$1,100,857
$1.1M
Cap Rate 9%
$856,222
$856.2K
Market Conditions
NOI Build-Up for 11,784 SF
Gross rent
$154.1K $13.08/SF
− Vacancy
−$14.0K −$1.19/SF
EGI
$140.1K $11.89/SF
− OpEx
−$63.0K −$5.35/SF
NOI
$77.1K $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 Rate 5%
$1,541,200
Cap Rate 7%
$1,100,857
Cap Rate 9%
$856,222
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$963.3K – $1.28M
NOI $77,060 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
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.
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Property Analytics
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Lease Details
12
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four buildings on separate lots offer two-bedroom layouts, private storage, and a shared fenced parking area.
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 apartments, each with 2 bedrooms and 2 bathrooms; Two fourplexes and two duplexes occupy four separate lots; 11,784 square feet; buildings constructed in 2004
