4-Unit Brick
For Sale
$315,900
46507 FAYE Lane, Hammond, LA 70401
Multifamily, Hammond, LA
Property Size2,447 SF
Lot Size0.21 Acres
Price / SF$129.10
Days on Market38
Property Features for 46507 FAYE Lane
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 2, Bedroom 1
Parking
3
Parking features
Driveway
Subdivision
Not a Subdivision
Directions
Take HWY 51 North of Hammond. Go left onto Kohnke Hill Road. Turn left onto Faye Lane. Property is on the right.
Standard status
Active
APN
06553992
Size
2,447 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
0.21A Being Lot 8 of Survey of Sec 15 T6S R7E
Legal Description
0.21A Being Lot 8 of Survey of Sec 15 T6S R7E
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Number of units
4
Building materials
Brick
Buildings
1
Listing Agency:
Elite Real Estate Advisors · Century 21 Real Estate
(985) 542-7601
Listed By:
Kristi B Galofaro · License #995685091
(985) 750-5609
Added: Sep 16
Changed: Oct 23
Last Checked: Oct 23 at 7:06PM
MLS# 2577554
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.
Built in 1981, this 2,447-square-foot, single-story quadplex contains four apartments on a 0.21-acre lot. Three units have two bedrooms and one bathroom each; the fourth has one bedroom and one bathroom. The building is constructed of brick, with central heating and central air conditioning. Driveway parking serves the property.
The property is north of SELU and east of I-55. Public water and a septic tank serve the building.
The property is north of SELU and east of I-55. Public water and a septic tank serve the building.
Key Highlights
- Four apartments: three 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- 2,447 square feet on a 0.21‑acre lot
- Built in 1981; brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,403
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$368,060
$368.1K
Cap Rate 7%
$262,900
$262.9K
Cap Rate 9%
$204,478
$204.5K
Market Conditions
NOI Build-Up for 2,447 SF
Gross rent
$28.8K $11.76/SF
− Vacancy
−$2.5K −$1.02/SF
EGI
$26.3K $10.74/SF
− OpEx
−$7.9K −$3.22/SF
NOI
$18.4K $7.52/SF
Area
Tangipahoa County, LA
Vacancy
8.64%
Lease Rate
$11.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$368,060
Cap Rate 7%
$262,900
Cap Rate 9%
$204,478
Alternative Uses
Best Use
Multifamily LT 5
$262.9K
$230.0K – $306.7K
NOI $18,403 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$228.6K
$200.0K – $266.7K
NOI $16,002 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$674.6K
$590.2K – $787.0K
NOI $47,219 @ 7.0% cap · market cap 14.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
81
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?
Quadplex - The single-story rental property has central heating and air, with a mix of two- and one-bedroom apartments.
Where is this quadplex located?
The property is located at 46507 FAYE Lane Hammond, LA.
What is the asking price?
The asking price for this property is $315,900.
What are key features of this property?
This property features: Four apartments: three 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; 2,447 square feet on a 0.21‑acre lot; Built in 1981; brick construction
