Multifamily Cottage
For Sale
$3,635,000
1001 Apollo Rd, Scott, LA 70583
Built in 2023, the property is part of a walkable traditional neighborhood community with shared resident amenities.
Property Size17,718 SF
Price / SF$205.16
Days on Market699
Property Features for 1001 Apollo Rd
General Information
Standard status
Active
Size
17,718 SF
Property subtype
Multifamily
Net Operating Income
$236,395
Additional Details
Gross Income
$330,960
Multifamily Units
15
Amenities
pool
gym
24/7 security monitoring
common area maintenance
Water
Sewer
Building Details
Year Built
2023
Listing Agency:
Marcus & Millichap
(225) 766-6305
Listed By:
Chris Shaheen · License #0995692662
(225) 766-6305
Source:
Lacdb.resimplifi
Added: Oct 2, 2024
Changed: Aug 30
Last Checked: Aug 31 at 1:04PM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Built in 2023, the multifamily property is associated with West Village, a Traditional Neighborhood Development in Scott, Louisiana. The community includes 15 rental cottages, multifamily apartments, and nearly 400 homes across 143 acres, with a design centered on walkable access and neighborhood amenities.
Community features covered by HOA dues include a pool, gym, 24/7 security monitoring, and common area maintenance. West Village began development in Spring 2019, providing a newer residential setting with a mix of rental and owner-occupied housing.
Community features covered by HOA dues include a pool, gym, 24/7 security monitoring, and common area maintenance. West Village began development in Spring 2019, providing a newer residential setting with a mix of rental and owner-occupied housing.
Key Highlights
- Built in 2023
- Part of West Village, a 143‑acre Traditional Neighborhood Development
- Community includes 15 rental cottages, multifamily apartments, and nearly 400 homes
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
$116,303
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
3.20%
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%
$2,326,060
$2.3M
Cap Rate 7%
$1,661,471
$1.7M
Cap Rate 9%
$1,292,256
$1.3M
Market Conditions
NOI Build-Up for 17,718 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
$238.1K $13.44/SF
− Vacancy
−$26.7K −$1.51/SF
EGI
$211.5K $11.93/SF
− OpEx
−$95.2K −$5.37/SF
NOI
$116.3K $6.56/SF
Area
Lafayette County, LA
Vacancy
11.20%
Lease Rate
$13.44 /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%
$2,326,060
Cap Rate 7%
$1,661,471
Cap Rate 9%
$1,292,256
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.45M – $1.94M
NOI $116,303 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,240 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 70583, LA
11,981
Population
4,476
Households
2.7
Avg Household Size
37
Median Age
19%
College-Educated
82%
High-School Grad
28.4 sq mi
ZIP Area
422
Density / Sq Mi
$52,856
Median Household Income
$45,131
Median Earnings
$877
Median Rent
$130,400
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?
Multifamily property - Built in 2023, the property is part of a walkable traditional neighborhood community with shared resident amenities.
Where is this multifamily property located?
The property is located at 1001 Apollo Rd Scott, LA.
What is the asking price?
The asking price for this property is $3,635,000.
What are key features of this property?
This property features: Built in 2023; Part of West Village, a 143‑acre Traditional Neighborhood Development; Community includes 15 rental cottages, multifamily apartments, and nearly 400 homes
