Brick Fourplex with Occupied
For Sale
$220,000
1306 Lee Ave, Houma, LA 70360
Four one-bedroom, one-bath residences provide an established occupancy profile.
Property Size2,931 SF
Price / SF$75.06
Days on Market101
Property Features for 1306 Lee Ave
General Information
Standard status
Active
Size
2,931 SF
Property subtype
Multi-Family
Listing Agency:
KELLER WILLIAMS REALTY BAYOU P
Listed By:
Lexi Neil · License #995713937
(985) 226-8086
Source:
Smithsquared
Added: Jul 10
Changed: Oct 14
Last Checked: Oct 7 at 3:31PM
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 KELLER WILLIAMS REALTY BAYOU P
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Investment Insights
Based on property information with market context.
This 2,931-square-foot quadplex contains four one-bedroom, one-bath units, each currently occupied by a tenant. The building has a brick exterior, while metal stairs provide access to the upper residences.
Located at 1306 Lee Ave in Houma, Louisiana, the property offers a compact multifamily configuration with established occupancy and durable exterior construction. Its four-unit layout provides a straightforward income-property format for ownership and management.
Located at 1306 Lee Ave in Houma, Louisiana, the property offers a compact multifamily configuration with established occupancy and durable exterior construction. Its four-unit layout provides a straightforward income-property format for ownership and management.
Key Highlights
- Four one‑bedroom, one‑bath units
- 2,931 SF quadplex
- All units currently tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,167
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,340
$383.3K
Cap Rate 7%
$273,814
$273.8K
Cap Rate 9%
$212,967
$213.0K
Market Conditions
NOI Build-Up for 2,931 SF
Gross rent
$38.3K $13.08/SF
− Vacancy
−$3.5K −$1.19/SF
EGI
$34.8K $11.89/SF
− OpEx
−$15.7K −$5.35/SF
NOI
$19.2K $6.54/SF
Area
Terrebonne 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%
$383,340
Cap Rate 7%
$273,814
Cap Rate 9%
$212,967
Alternative Uses
Best Use
Multifamily LT 5
$314.9K
$275.5K – $367.4K
NOI $22,043 @ 7.0% cap · market cap 10.02%
Second Best
Apartment 5plus
$273.8K
$239.6K – $319.5K
NOI $19,167 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$808.0K
$707.0K – $942.6K
NOI $56,557 @ 7.0% cap · market cap 25.71%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 70360, LA
28,014
Population
12,283
Households
2.3
Avg Household Size
40
Median Age
32%
College-Educated
90%
High-School Grad
60.1 sq mi
ZIP Area
466
Density / Sq Mi
$82,365
Median Household Income
$44,925
Median Earnings
$1,085
Median Rent
$297,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom, one-bath residences provide an established occupancy profile.
Where is this quadplex located?
The property is located at 1306 Lee Ave Houma, LA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units; 2,931 SF quadplex; All units currently tenant‑occupied
