Renovated 48-Unit Multifamily
41063 Cannon Rd, Gonzales, LA 70737
For Sale
$6,576,000
Pending
Fully renovated 48-unit multifamily property on 2.18 acres.
Property Size52,237 SF
Lot Size2.18 Acres
Days on Market297
Property Features for 41063 Cannon Rd
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Listing Agency:
Elifin Realty
Listed By:
Benjamin Azar
(504) 289-7750
Source:
Lacdb.resimplifi
Added: Jan 20
Changed: Oct 31
Last Checked: Nov 12 at 4:17AM
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 Elifin Realty
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Investment Insights
Based on property information with market context.
The property at 41063 Cannon Rd features a 48-unit multifamily community situated on approximately 2.18 acres. The property consists of twelve two-story buildings, each containing four 2-bedroom, 2.5-bathroom units. All unit interiors and building exteriors were fully renovated in 2022. The first floor of each unit includes a kitchen, living and dining area, half bathroom, and laundry nook. The second floor features two bedrooms, two full bathrooms, and three closets, providing ample storage. The property is located approximately 3 minutes from Airline Hwy, providing convenient access to nearby goods and services including the Bayou Plaza Shopping Center, Lowe’s, Domino’s Pizza, Smoothie King, Jack in the Box, and more. The property is zoned MU (Mixed Use Corridors) and RM (Medium Intensity Residential).
Key Highlights
- Fully renovated in 2022 (unit interiors and building exteriors).
- 48‑unit townhome‑style multifamily community.
- Spacious 2 Bedroom / 2.5 Bathroom units with ample storage (three closets).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$240,256
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,805,120
$4.8M
Cap Rate 7%
$3,432,229
$3.4M
Cap Rate 9%
$2,669,511
$2.7M
Market Conditions
NOI Build-Up for 52,237 SF
Gross rent
$545.4K $10.44/SF
− Vacancy
−$108.5K −$2.08/SF
EGI
$436.8K $8.36/SF
− OpEx
−$196.6K −$3.76/SF
NOI
$240.3K $4.60/SF
Area
Ascension County, LA
Vacancy
19.90%
Lease Rate
$10.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,805,120
Cap Rate 7%
$3,432,229
Cap Rate 9%
$2,669,511
Alternative Uses
Best Use
Apartment 5plus
$3.43M
$3.00M – $4.00M
NOI $240,256 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.46M
$10.03M – $13.37M
NOI $802,360 @ 7.0% cap · market cap 12.20%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
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Business Placement
Demographics for 70737, LA
47,332
Population
20,720
Households
2.3
Avg Household Size
36
Median Age
26%
College-Educated
86%
High-School Grad
54.0 sq mi
ZIP Area
877
Density / Sq Mi
$80,758
Median Household Income
$51,444
Median Earnings
$1,533
Median Rent
$252,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 48-unit multifamily property on 2.18 acres.
Where is this apartment building located?
The property is located at 41063 Cannon Rd Gonzales, LA.
What is the asking price?
The asking price for this property is $6,576,000.
What are key features of this property?
This property features: Fully renovated in 2022 (unit interiors and building exteriors).; 48‑unit townhome‑style multifamily community.; Spacious 2 Bedroom / 2.5 Bathroom units with ample storage (three closets).
