24-Unit Apartment
For Sale
$1,985,000
46434 W LEE HUGHES Road, Hammond, LA 70401
Multi-Family, Traditional, Hammond, LA
Property Size17,513 SF
Lot Size1.85 Acres
Price / SF$113.34
Days on Market141
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
Amenities
laundry facility
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
(504) 390-5229
Added: May 20
Changed: Sep 30
Last Checked: Oct 7 at 10:06AM
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.
Westview Village Apartments is a 24-unit multifamily property on approximately 1.85 acres in Hammond. The 17,513-square-foot community includes three buildings constructed on concrete slabs, with brick and vinyl siding exteriors. Each apartment offers 2 bedrooms and 1 bathroom, and the property includes a coin-operated laundry facility, eight storage units used by ownership, an office area, and a large concrete parking area. Central heating and cooling serve the buildings, which were constructed in 1998. Roofs were replaced approximately three years ago.
The property is located at 46434 W Lee Hughes Road, near Interstate 55 and Interstate 12, with access to Southeastern Louisiana University, schools, shopping, restaurants, medical facilities, and parks. Utilities include public parish water through a single master meter and septic sewer service. The site is fenced and equipped with security cameras. Reported occupancy is 100%, with a 7% CAP rate.
The property is located at 46434 W Lee Hughes Road, near Interstate 55 and Interstate 12, with access to Southeastern Louisiana University, schools, shopping, restaurants, medical facilities, and parks. Utilities include public parish water through a single master meter and septic sewer service. The site is fenced and equipped with security cameras. Reported occupancy is 100%, with a 7% CAP rate.
Key Highlights
- 24 fully occupied units, each with 2 bedrooms and 1 bathroom
- 17,513 square feet on approximately 1.85 acres
- Three apartment buildings constructed in 1998
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.
Property Analytics
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Current Use
Lease Details
1
Office units
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily community with on-site laundry, storage units, and convenient access to major highways.
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 fully occupied units, each with 2 bedrooms and 1 bathroom; 17,513 square feet on approximately 1.85 acres; Three apartment buildings constructed in 1998
