Modern Fourplex
151 Dixie Avenue Houma, LA 70363
151 Dixie Avenue, Houma, LA, 70363
$659,900
For Sale
$659,900
Modern townhouse-style fourplex built 10 years ago, offered fully furnished and designed with two bedrooms and two baths per unit.
Property Size4,951 SF
Price / SF$133.29
Days on Market328
Property Features for 151 Dixie Avenue
General Information
- Standard status
- Active
- Size
- 4,951 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Listing agency
KELLER WILLIAMS REALTY BAYOU P
(985) 855-2945
Listed by
Molly Usie · License #912122266
(985) 855-2945
Source
Compass
Added: Aug 29, 2025 Updated: Jul 22 at 10:15AM Checked: Jul 22 at 10:15AM
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
Investment Insights
Based on property information with market context.
This modern townhouse-style fourplex was built approximately 10 years ago and is presented in excellent condition. The property is fully furnished and includes appliances and newly purchased furniture from this year. Each unit features two bedrooms and a full bathroom upstairs, including an oversized walk-in closet, while the main level offers an eat-in kitchen with granite countertops, stainless steel appliances, and wood and ceramic tile flooring. Additional in-unit features include a half bath, a laundry nook, and a spacious pantry.
The building is situated just off Grand Caillou Road and is surrounded by a mix of residential and neighborhood-style commercial properties. The property is described as being located in Flood Zone X.
The upgrades noted include ceiling fans, undermount sinks, and total electric systems.
The building is situated just off Grand Caillou Road and is surrounded by a mix of residential and neighborhood-style commercial properties. The property is described as being located in Flood Zone X.
The upgrades noted include ceiling fans, undermount sinks, and total electric systems.
Key Highlights
- Modern townhouse‑style fourplex built 10 years ago with 2 bedrooms and 2 baths per unit (4 full baths and 4 half baths total).
- Fully furnished and includes all appliances: dishwasher, dryer, microwave, range/oven, refrigerator, and self‑cleaning oven.
- Each unit features central AC and central electric heat, with 4 AC units and 4 heat units total for the building.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $13.08 |
| − Vacancy | −$5.9k | −$1.19 |
| EGI | $58.9k | $11.89 |
| − OpEx | −$26.5k | −$5.35 |
| NOI | $32.4k | $6.54 |
4,951 SF · lease $13.08/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$462.5K
$404.7K – $539.6K
NOI $32,376 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,534 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Modern townhouse-style fourplex built 10 years ago, offered fully furnished and designed with two bedrooms and two baths per unit.
Where is this multifamily property located?
The property is located at 151 Dixie Avenue Houma, LA.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Modern townhouse‑style fourplex built 10 years ago with 2 bedrooms and 2 baths per unit (4 full baths and 4 half baths total).; Fully furnished and includes all appliances: dishwasher, dryer, microwave, range/oven, refrigerator, and self‑cleaning oven.; Each unit features central AC and central electric heat, with 4 AC units and 4 heat units total for the building.
