Brick 12-Unit Apartment
For Sale
$1,600,000
1300 S RANGE Road, Hammond, LA 70403
MULTI_FAMILY - Hammond, LA
Property Size11,784 SF
Lot Size0.84 Acres
Price / SF$135.78
Days on Market95
Property Features for 1300 S RANGE Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Patio and Porch features
Porch
Exterior features
Courtyard, Fence, Porch
Fencing
Fenced
Subdivision
Not a Subdivision
Lot features
Corner, Regular
Standard status
Active
APN
6157750
Size
11,784 SF
Lot size
0.84 Acres
Taxes and HOA fees
Tax Description
T6S-R7E-SEC25
Legal Description
T6S-R7E-SEC25
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Number of units
12
Roof type
Shingle
Architectural style
Other
Listing Agency:
Realty Executives Florida Parishes · Realty Executives International
(985) 956-7477
Listed By:
Sam DiVittorio · License #995688138
(985) 956-7477
Added: May 6
Changed: Jul 3
Last Checked: Aug 8 at 7:06AM
MLS# 2556481
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.
The property is a 12-unit apartment complex made up of two 4-plex buildings and two duplex buildings, located on separate lots at the corner of Old Covington Hwy and S Range Rd. The units are all-electric and built in an all-brick style with gutters and stucco-accented front porches. Each 2-bedroom, 2-bath unit includes a private storage room accessible from the back patio. Interiors feature an open floor plan, and kitchens are equipped with stoves, microwaves, dishwashers, and refrigerators. Laundry is supported by washer-dryer laundry rooms for each unit. A fenced, private concrete parking lot with green space is provided, along with a private dumpster onsite for residents. City utilities, including water and sewer, are available, and high-speed internet is available with multiple providers.
The complex is within walking distance of downtown Hammond and is less than 2 miles from Hammond Square Mall and I-12 access. It is also about 2.3 miles from SLU. The property is located in Flood Zone X.
This configuration can support tenants seeking self-contained 2-bedroom units with private storage and in-unit laundry functionality, while also offering an onsite parking and waste setup. For buyers and operators, the property’s 12-unit layout across multiple buildings may provide a practical structure for day-to-day management within a defined, fenced site.
The complex is within walking distance of downtown Hammond and is less than 2 miles from Hammond Square Mall and I-12 access. It is also about 2.3 miles from SLU. The property is located in Flood Zone X.
This configuration can support tenants seeking self-contained 2-bedroom units with private storage and in-unit laundry functionality, while also offering an onsite parking and waste setup. For buyers and operators, the property’s 12-unit layout across multiple buildings may provide a practical structure for day-to-day management within a defined, fenced site.
Key Highlights
- 12‑unit complex on 4 lots, walking distance to downtown Hammond
- Each unit features 2 bedrooms and 2 bathrooms, plus private storage
- All‑brick construction with stucco‑accented front porches and fenced, private concrete parking lot with green space
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
$77,060
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
4.82%
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%
$1,541,200
$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
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
$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 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%
$1,541,200
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.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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 units with private storage and fenced parking on city utilities, close to 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 on 4 lots, walking distance to downtown Hammond; Each unit features 2 bedrooms and 2 bathrooms, plus private storage; All‑brick construction with stucco‑accented front porches and fenced, private concrete parking lot with green space
