Hammond Multifamily Investment
46434 Lee Hughes Road Hammond, LA 70401
46434 Lee Hughes Road, Hammond, LA, 70401
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For Sale
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24-unit apartment complex near I-55 and I-12.
Property Size17,513 SF
Lot Size1.85 Acres
Price / SF$122.77
Days on Market57
Property Features for 46434 Lee Hughes Road
General Information
- Standard status
- Active
- Size
- 17,513 SF
- Lot size
- 1.85 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1998
Listing Agency
Elite Real Estate Advisors
(985) 542-7601
Listed by
Sergio Mesa · License #912124506
Source
Crexi
Added: May 22 Checked: Jul 17 at 6:08 am
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 Elite Real Estate Advisors
Investment Insights
Based on property information with market context.
Westview Village Apartments, located in Hammond at 46434 W. Lee Hughes Road, presents a multifamily investment opportunity. The property features 24 fully occupied units, each with 2 bedrooms and 1 bathroom. Situated on approximately 1.85 acres, the complex consists of three buildings constructed on concrete slabs with brick and vinyl siding exteriors. The asphalt shingle roofs were replaced approximately three years ago. Tenant amenities include an on-site coin-operated laundry facility and eight additional storage units currently utilized by ownership, creating potential for additional rental income. A large concrete parking area provides access and parking for residents and guests. Utilities include parish water service with a single master meter and a septic sewer system. There is an office space available for ownership. Westview Village is located minutes from Interstate 55 and Interstate 12, allowing commutes to Baton Rouge and New Orleans. The property is also located near Southeastern Louisiana University, local schools, shopping, restaurants, medical facilities, parks, and everyday conveniences. With strong occupancy, a stable tenant base, and opportunities for increased revenue, Westview Village offers investors an income-producing asset in Tangipahoa Parish’s rental market.
Key Highlights
- 24 fully occupied units, each with 2 bedrooms and 1 bathroom, providing immediate income
- Excellent location near Interstate 55 and Interstate 12, Southeastern Louisiana University, shopping, restaurants, and medical facilities
- Recently replaced asphalt shingle roofs, reducing near‑term maintenance costs
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $229.1k | $13.08 |
| − Vacancy | −$20.8k | −$1.19 |
| EGI | $208.2k | $11.89 |
| − OpEx | −$93.7k | −$5.35 |
| NOI | $114.5k | $6.54 |
17,513 SF · lease $13.08/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,524 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.83M
$4.22M – $5.63M
NOI $337,941 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 24-unit apartment complex near I-55 and I-12.
Where is this apartment building located?
The property is located at 46434 Lee Hughes Road Hammond, LA.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 24 fully occupied units, each with 2 bedrooms and 1 bathroom, providing immediate income; Excellent location near Interstate 55 and Interstate 12, Southeastern Louisiana University, shopping, restaurants, and medical facilities; Recently replaced asphalt shingle roofs, reducing near‑term maintenance costs
