8-Unit Multifamily
For Sale
$775,000
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$126.14
Days on Market49
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:
Realtors- Loescher Properties
(504) 281-2232
Listed By:
April Brown · License #995705288
(504) 606-0466
Source:
Hospitalityrealty
Added: Sep 4
Changed: Oct 21
Last Checked: Oct 20 at 8:49PM
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 Realtors- Loescher Properties
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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 / Yr
$40,178
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
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
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 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 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,558 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
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 $775,000.
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
