Renovated Multifamily Property in
For Sale
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15909 River Rd, Hahnville, LA 70057
Fully renovated 50-unit multifamily property with expansion potential.
Property Size43,300 SF
Price / SF$150.58
Days on Market171
Property Features for 15909 River Rd
General Information
Standard status
Active
Size
43,300 SF
Property subtype
Multifamily
Zoning
Opportunity
Net Operating Income
$52,167
Building Details
Year Built
1966
Year Renovated
2022
Stories
2
Units
50
Listing Agency:
Marcus & Millichap - Baton Rouge
Listed By:
Charlie Smith · License #LA SALE.995716472-ACT
Source:
Crexi
Added: Feb 21
Changed: Aug 8
Last Checked: Aug 8 at 6:32AM
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 - Baton Rouge
Investment Insights
Based on property information with market context.
River Park Apartments is a 50-unit garden-style multifamily property located in Hahnville, Louisiana. The property, constructed with 2-story masonry, was fully renovated internally and externally in 2022. The site includes surface parking with 75 spaces. On-site laundry facilities are available. Additional land provides expansion, amenity, or monetization opportunities. The property is located in a designated Opportunity Zone.
Key Highlights
- 50‑unit garden‑style multifamily property.
- Fully renovated in 2022 with no deferred maintenance.
- Located in a designated Opportunity Zone.
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
$444,214
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
6.81%
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%
$8,884,280
$8.9M
Cap Rate 7%
$6,345,914
$6.3M
Cap Rate 9%
$4,935,711
$4.9M
Market Conditions
NOI Build-Up for 43,300 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
$888.5K $20.52/SF
− Vacancy
−$80.9K −$1.87/SF
EGI
$807.7K $18.65/SF
− OpEx
−$363.4K −$8.39/SF
NOI
$444.2K $10.26/SF
Area
St. Charles County, LA
Vacancy
9.10%
Lease Rate
$20.52 /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%
$8,884,280
Cap Rate 7%
$6,345,914
Cap Rate 9%
$4,935,711
Alternative Uses
Best Use
Apartment 5plus
$6.35M
$5.55M – $7.40M
NOI $444,214 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.42M
$10.00M – $13.33M
NOI $799,664 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 70057, LA
4,201
Population
1,628
Households
2.6
Avg Household Size
41
Median Age
15%
College-Educated
86%
High-School Grad
44.5 sq mi
ZIP Area
94
Density / Sq Mi
$62,361
Median Household Income
$45,286
Median Earnings
$676
Median Rent
$217,500
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 - Fully renovated 50-unit multifamily property with expansion potential.
Where is this apartment building located?
The property is located at 15909 River Rd Hahnville, LA.
What is the asking price?
The asking price for this property is $6,520,000.
What are key features of this property?
This property features: 50‑unit garden‑style multifamily property.; Fully renovated in 2022 with no deferred maintenance.; Located in a designated Opportunity Zone.
