24-Unit Apartment
For Sale
$1,985,000
46434 W LEE HUGHES Road, Hammond, LA 70401
Multifamily, Hammond, LA
Property Size17,513 SF
Lot Size1.85 Acres
Price / SF$113.34
Days on Market157
Property Features for 46434 W LEE HUGHES Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
48
Bathrooms
24
Full bathrooms
24
Rooms
Bathroom 9, Bathroom 4, Bedroom 47, Bathroom 14, Bedroom 36, Bathroom 15, Bedroom 46, Bathroom 19, Bedroom 44, Bedroom 5, Bedroom 34, Bedroom 31, Bedroom 6, Bedroom 1, Bedroom 11, Bedroom 42, Bathroom 3, Bedroom 9, Bathroom 13, Bathroom 8, Bedroom 39, Bedroom 45, Bathroom 11, Bedroom 43, Bedroom 37, Bedroom 10, Bedroom 28, Bedroom 7, Bedroom 14, Bathroom 10, Bathroom 12, Bathroom 21, Bathroom 17, Bedroom 2, Bedroom 20, Bedroom 17, Bedroom 40, Bedroom 24, Bedroom 19, Bedroom 16, Bedroom 21, Bathroom 5, Bathroom 23, Bathroom 24, Bedroom 38, Bedroom 15, Bedroom 35, Bathroom 2, Bedroom 4, Bathroom 16, Bedroom 26, Bedroom 27, Bathroom 22, Bathroom 20, Bedroom 48, Bathroom 1, Bedroom 8, Bedroom 13, Bathroom 6, Bedroom 41, Bedroom 3, Bedroom 22, Bathroom 7, Bedroom 32, Bathroom 18, Bedroom 33, Bedroom 12, Bedroom 23, Bedroom 29, Bedroom 25, Bedroom 18, Bedroom 30
Parking features
Parking Lot
Subdivision
Not a Subdivision
Directions
Wardline Rd. west to W. Lee Hughes Rd. on right. Take right, proceed .08 of a mile. Complex on right
Standard status
Active
APN
05988519
Size
17,513 SF
Lot size
1.85 Acres
Additional Details
Tenant in Place
Yes
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
Amenities
on-site coin-operated laundry facility
Building Details
Year built
1998
Number of units
24
Building materials
Brick, Vinyl Siding
Architectural style
Other
Buildings
3
Listing Agency:
Elite Real Estate Advisors · Century 21 Real Estate
(985) 542-7601
Listed By:
Sergio A Mesa · License #912124506
(504) 390-5229
Added: May 20
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 2559117
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 24-unit apartment property comprises three buildings dating to 1998, with a combined 17,513 square feet on 1.85 acres. Each residence has two bedrooms and one bathroom. Brick and vinyl siding cover the buildings, which sit on concrete slabs. The asphalt shingle roofs were replaced approximately three years ago. On-site features include coin-operated laundry, an office, eight storage units used by ownership, and a concrete parking area. Central heating and air conditioning serve the apartments. Water comes from the public system, and wastewater is handled by a septic system; the property has one master water meter. All units are occupied.
The property is near Interstate 55 and Interstate 12, with Southeastern Louisiana University, schools, shops, restaurants, medical services, and parks in the surrounding area. The reported cap rate is 7%.
The property is near Interstate 55 and Interstate 12, with Southeastern Louisiana University, schools, shops, restaurants, medical services, and parks in the surrounding area. The reported cap rate is 7%.
Key Highlights
- 24 apartments, each with 2 bedrooms and 1 bathroom
- 17,513 square feet across three buildings on 1.85 acres
- Built in 1998; asphalt shingle roofs replaced approximately three years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,524
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
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
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 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 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.83M
$4.22M – $5.63M
NOI $337,941 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
24
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have access to coin-operated laundry, while an office and eight owner-used storage spaces serve the property.
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 $1,985,000.
What are key features of this property?
This property features: 24 apartments, each with 2 bedrooms and 1 bathroom; 17,513 square feet across three buildings on 1.85 acres; Built in 1998; asphalt shingle roofs replaced approximately three years ago
