24-Unit Apartment
For Sale
$1,985,000
46434 W Lee Hughes Rd, Hammond, LA 70401
Fully occupied multifamily complex with on-site laundry, storage, and ownership office space.
Property Size17,513 SF
Price / SF$113.34
Days on Market79
Property Features for 46434 W Lee Hughes Rd
General Information
Standard status
Active
Size
17,513 SF
Property subtype
Multi-Family
Building Details
Year Built
1998
Listing Agency:
Elite Real Estate Advisors
Listed By:
Sergio Mesa · License #912124506
(985) 542-7601
Source:
Fiorellaavenue
Added: Jul 21
Changed: Oct 2
Last Checked: Oct 5 at 8:11PM
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 Elite Real Estate Advisors
Investment Insights
Based on property information with market context.
Westview Village Apartments is a 24-unit multifamily property comprising three buildings on concrete slabs. Each residence includes 2 bedrooms and 1 bathroom, while the complex also provides an on-site coin-operated laundry facility, eight storage units, and office space for ownership. Brick and vinyl siding exteriors complement asphalt shingle roofs replaced approximately three years ago. The property was built in 1998 and encompasses 17,513 SF on approximately 1.85 acres, with a large concrete parking area serving residents and guests.
The property is located at 46434 W. Lee Hughes Road in Hammond, near Interstate 55 and Interstate 12. Southeastern Louisiana University, schools, shopping, restaurants, medical facilities, and parks are also nearby. Utilities include parish water through a single master meter and a septic sewer system. All 24 units are fully occupied, and the property is reported at a 7% CAP.
The property is located at 46434 W. Lee Hughes Road in Hammond, near Interstate 55 and Interstate 12. Southeastern Louisiana University, schools, shopping, restaurants, medical facilities, and parks are also nearby. Utilities include parish water through a single master meter and a septic sewer system. All 24 units are fully occupied, and the property is reported at a 7% CAP.
Key Highlights
- 24 fully occupied units, each with 2 bedrooms and 1 bathroom
- 17,513 SF apartment property on approximately 1.85 acres
- Three buildings constructed on concrete slabs; built in 1998
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,524
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,290,480
$2.3M
Cap Rate 7%
$1,636,057
$1.6M
Cap Rate 9%
$1,272,489
$1.3M
Market Conditions
NOI Build-Up for 17,513 SF
Gross rent
$229.1K $13.08/SF
− Vacancy
−$20.8K −$1.19/SF
EGI
$208.2K $11.89/SF
− OpEx
−$93.7K −$5.35/SF
NOI
$114.5K $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%
$2,290,480
Cap Rate 7%
$1,636,057
Cap Rate 9%
$1,272,489
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,524 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.83M
$4.22M – $5.63M
NOI $337,941 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
23
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily complex with on-site laundry, storage, and ownership office space.
Where is this apartment building located?
The property is located at 46434 W Lee Hughes Rd Hammond, LA.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: 24 fully occupied units, each with 2 bedrooms and 1 bathroom; 17,513 SF apartment property on approximately 1.85 acres; Three buildings constructed on concrete slabs; built in 1998
