8-Unit Multifamily
New
For Sale
$795,000
15313 W Hoffman Rd, Hammond, LA 70403
Remodeled units, individual water metering, and a 2021 roof replacement support efficient property operations.
Property Size6,144 SF
Lot Size6.00 Acres
Price / SF$129.39
Days on Market2
Property Features for 15313 W Hoffman Rd
General Information
Standard status
Active
Size
6,144 SF
Lot size
6.00 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
8
Building Details
Year Built
1997
Listing Agency:
Fine Southern Properties, LLC
(985) 273-7986
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 4
Last Checked: Sep 4 at 2:25PM
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 Fine Southern Properties, LLC
Investment Insights
Based on property information with market context.
Built in 1997, this 8-unit multifamily complex contains 6,144 square feet on 6 acres. All units were remodeled within the past 3 years and feature all-electric systems with no carpet. City water is individually metered for each unit, while the roofs were replaced in 2021.
The property is located at 15313 W Hoffman Rd in Hammond, near the interstate, hospital, shopping, and dining. Its setting is described as private, and the site is in Flood Zone X. The existing configuration includes eight residential units with updated interiors and recent roof work.
The property is located at 15313 W Hoffman Rd in Hammond, near the interstate, hospital, shopping, and dining. Its setting is described as private, and the site is in Flood Zone X. The existing configuration includes eight residential units with updated interiors and recent roof work.
Key Highlights
- 8‑unit multifamily complex with 6,144 square feet
- Situated on 6 acres at 15313 W Hoffman Rd, Hammond, LA 70403
- All 8 units remodeled within the past 3 years
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
$40,178
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
5.05%
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%
$803,560
$803.6K
Cap Rate 7%
$573,971
$574.0K
Cap Rate 9%
$446,422
$446.4K
Market Conditions
NOI Build-Up for 6,144 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
$80.4K $13.08/SF
− Vacancy
−$7.3K −$1.19/SF
EGI
$73.1K $11.89/SF
− OpEx
−$32.9K −$5.35/SF
NOI
$40.2K $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%
$803,560
Cap Rate 7%
$573,971
Cap Rate 9%
$446,422
Alternative Uses
Best Use
Apartment 5plus
$574.0K
$502.2K – $669.6K
NOI $40,178 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,558 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
41
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 - Remodeled units, individual water metering, and a 2021 roof replacement support efficient property operations.
Where is this apartment building located?
The property is located at 15313 W Hoffman Rd Hammond, LA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 8‑unit multifamily complex with 6,144 square feet; Situated on 6 acres at 15313 W Hoffman Rd, Hammond, LA 70403; All 8 units remodeled within the past 3 years
