Hammond Multifamily Investment
For Sale
$2,150,000
46434 W LEE HUGHES Road, Hammond, LA 70401
MULTI_FAMILY - Hammond, LA
Property Size17,513 SF
Lot Size1.85 Acres
Price / SF$122.77
Days on Market95
Property Features for 46434 W LEE HUGHES Road
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Security features
Security
Exterior features
Fence, Security Cameras
Fencing
Fenced
Subdivision
Not a Subdivision
Lot features
1-5 Acres, Oversized
Standard status
Active
APN
05988519
Size
17,513 SF
Lot size
1.85 Acres
Taxes and HOA fees
Tax Description
1.85A IN SEC 18 T6SR7E
Legal Description
1.85A IN SEC 18 T6SR7E
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Floors in Building
1
Number of units
1
Roof type
Asbestos Shingle, Shingle
Architectural style
Other
Listing Agency:
Elite Real Estate Advisors · Century 21 Real Estate
(985) 542-7601
Listed By:
Sergio Mesa · License #912124506
(985) 542-7601
Added: May 20
Changed: Jul 30
Last Checked: Aug 22 at 9:06AM
MLS# 2559117
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in Hammond, the Westview Village Apartments at 46434 W. Lee Hughes Road offer 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. The property is located near 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. The property size is 17513 square feet.
Key Highlights
- 24 fully occupied 2‑bedroom, 1‑bath units in Westview Village Apartments
- Approx. 1.85‑acre complex with three buildings on concrete slabs; brick and vinyl siding exteriors
- Asphalt shingle roofs replaced approx. 3 years ago; shingle/asbestos shingle roof noted
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
$114,524
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
5.33%
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%
$2,290,480
$2.3M
Cap Rate 7%
$1,636,057
$1.6M
Cap Rate 9%
$1,272,489
$1.3M
Market Conditions
NOI Build-Up for 17,513 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
$229.1K $13.08/SF
− Vacancy
−$20.8K −$1.19/SF
EGI
$208.2K $11.89/SF
− OpEx
−$93.7K −$5.35/SF
NOI
$114.5K $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 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%
$2,290,480
Cap Rate 7%
$1,636,057
Cap Rate 9%
$1,272,489
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
24
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 70401, LA
21,014
Population
10,321
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
88%
High-School Grad
34.7 sq mi
ZIP Area
606
Density / Sq Mi
$50,995
Median Household Income
$31,405
Median Earnings
$977
Median Rent
$226,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 24-unit apartment complex in Hammond, LA, fully occupied.
Where is this apartment building located?
The property is located at 46434 W 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 2‑bedroom, 1‑bath units in Westview Village Apartments; Approx. 1.85‑acre complex with three buildings on concrete slabs; brick and vinyl siding exteriors; Asphalt shingle roofs replaced approx. 3 years ago; shingle/asbestos shingle roof noted
