Hammond Multifamily Investment
46434 W LEE HUGHES Road, Hammond, LA 70401
New
MULTI_FAMILY - Hammond, LA
Type:Apartment
Property size:
17,513 SFLot size:
1.85 AcresPrice / SF:
$122/SF- Added:
- May 20, 2026
- Days on Market:
- 4
- Last Refresh:
- May 23 at 12:06 am
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
- 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
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
- Shingle, Asbestos Shingle
- Architectural style
- Other
Listing agent Sergio Mesa License #912124506 (985) 542-7601
Listing office Elite Real Estate Advisors 14454 University Ave., Hammond, LA (985) 542-7601
Listing date May 20, 2026
MLS# 2559117
Listing URL
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.
HighLights
- Fully occupied 24‑unit apartment complex, offering immediate rental income.
- Convenient location near Interstate 55 and Interstate 12, providing easy access to Baton Rouge and New Orleans.
- Recently replaced asphalt shingle roofs (approximately 3 years ago), reducing near‑term maintenance costs.
- Desirable tenant amenities including on‑site coin‑operated laundry facility and ample parking.
- Located near Southeastern Louisiana University, schools, shopping, restaurants, and medical facilities.
- Additional storage units available with potential for additional rental income.
Overview
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.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.27M
NOI $114,524 @ 9.00% cap · cautious / downside scenario
Moderate
$1.64M
NOI $114,524 @ 7.00% cap · market / base-case scenario
Aggressive
$2.29M
NOI $114,524 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| 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 Use Scenarios
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 Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Hammond
- County
- Tangipahoa
- State
- Louisiana
- Longitude
- -90.5370109
- Latitude
- 30.5311483
Nearby Similar for Sale
FAQs
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: Fully occupied 24‑unit apartment complex, offering immediate rental income.; Convenient location near Interstate 55 and Interstate 12, providing easy access to Baton Rouge and New Orleans.; Recently replaced asphalt shingle roofs (approximately 3 years ago), reducing near‑term maintenance costs.
