Renovated Four-Unit Property with
For Sale
$459,000
Pending
43260 Happywoods Rd, Hammond, LA 70403
Fully occupied rental property with renovated units, private porches, in-unit laundry hookups, and a detached metal shop.
Property Size3,600 SF
Lot Size2.20 Acres
Days on Market8
Property Features for 43260 Happywoods Rd
General Information
Standard status
Pending
Size
3,600 SF
Lot size
2.20 Acres
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$46,800
Highway Access
Yes
Amenities
in-unit laundry hookups
private porch access
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
K Company Realty
(985) 517-6311
Listed By:
Lauren Buras · License #995702096
(985) 981-7857
Source:
Exprealty
Added: Sep 1
Changed: Sep 6
Last Checked: Sep 8 at 9:21AM
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 K Company Realty
Investment Insights
Based on property information with market context.
This 3,600-square-foot quadplex contains four occupied 2-bedroom, 2-bath units, each arranged with an open layout, spacious bedrooms, a private primary bathroom, pantry, private porch access, and in-unit laundry hookups. Units A, B, and D were renovated in 2026, and the roof was replaced in 2022. A 20x40 metal shop built in 2025 adds electricity, a mini-split system, plumbing rough-in, and a roll-up door.
The property spans approximately 2.2 acres at 43260 Happywoods Rd in Hammond, Louisiana, with access to I-12, shopping, and dining within minutes. It is permitted for two additional units, while existing infrastructure may support up to four additional units. Potential subdivision and construction are subject to parish approval and buyer verification.
The property spans approximately 2.2 acres at 43260 Happywoods Rd in Hammond, Louisiana, with access to I-12, shopping, and dining within minutes. It is permitted for two additional units, while existing infrastructure may support up to four additional units. Potential subdivision and construction are subject to parish approval and buyer verification.
Key Highlights
- Four occupied 2‑bedroom, 2‑bath units
- Approximately 2.2 acres at 43260 Happywoods Rd, Hammond, LA
- Units A, B, and D renovated in 2026
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
$27,075
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
5.90%
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%
$541,500
$541.5K
Cap Rate 7%
$386,786
$386.8K
Cap Rate 9%
$300,833
$300.8K
Market Conditions
NOI Build-Up for 3,600 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
$42.3K $11.76/SF
− Vacancy
−$3.7K −$1.02/SF
EGI
$38.7K $10.74/SF
− OpEx
−$11.6K −$3.22/SF
NOI
$27.1K $7.52/SF
Area
Tangipahoa County, LA
Vacancy
8.64%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
30.00%
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%
$541,500
Cap Rate 7%
$386,786
Cap Rate 9%
$300,833
Alternative Uses
Best Use
Multifamily LT 5
$386.8K
$338.4K – $451.3K
NOI $27,075 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$336.3K
$294.3K – $392.4K
NOI $23,542 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$992.4K
$868.4K – $1.16M
NOI $69,468 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
62
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?
Quadplex - Fully occupied rental property with renovated units, private porches, in-unit laundry hookups, and a detached metal shop.
Where is this quadplex located?
The property is located at 43260 Happywoods Rd Hammond, LA.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Four occupied 2‑bedroom, 2‑bath units; Approximately 2.2 acres at 43260 Happywoods Rd, Hammond, LA; Units A, B, and D renovated in 2026
