11-Unit Apartment
48 Whitmar Dr, Hammond, LA 70401
For Sale
$750,000
All-electric residences feature granite kitchens, individual laundry appliances, and tenant parking.
Property Size6,192 SF
Price / SF$121.12
Days on Market101
Property Features for 48 Whitmar Dr
General Information
Standard status
Size
Property subtype
Additional Details
Utilities to Site
Multifamily Units
Amenities
granite countertops
range/ovens
refrigerators
washer-dryers
high speed internet
Building Details
Year Built
Listing Agency:
Appletree Realty, LLC
Listed By:
Cindy Ng · License LA #995684283
(504) 272-7288
Source:
Fiorellaavenue
Added: Aug 5
Changed: Nov 10
Last Checked: Nov 12 at 10:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Appletree Realty, LLC
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Investment Insights
Based on property information with market context.
This 11-unit apartment property contains 6,192 square feet and offers all-electric residences with no carpet. Each unit includes a kitchen outfitted with granite countertops, a range/oven, and a refrigerator, along with a washer and dryer. City water and sewer service support the complex, while high-speed internet is available through several providers.
The property is situated near Southeastern Louisiana University and downtown Hammond. On-site parking is available for tenants, adding a practical amenity for the residential community. The combination of individual laundry equipment, updated kitchen components, and city utility service provides a clearly defined physical configuration for multifamily ownership.
The property is situated near Southeastern Louisiana University and downtown Hammond. On-site parking is available for tenants, adding a practical amenity for the residential community. The combination of individual laundry equipment, updated kitchen components, and city utility service provides a clearly defined physical configuration for multifamily ownership.
Key Highlights
- 11‑unit apartment complex totaling 6,192 square feet
- Near Southeastern Louisiana University and downtown Hammond
- All‑electric units with no carpet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,492
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$809,840
$809.8K
Cap Rate 7%
$578,457
$578.5K
Cap Rate 9%
$449,911
$449.9K
Market Conditions
NOI Build-Up for 6,192 SF
Gross rent
$81.0K $13.08/SF
− Vacancy
−$7.4K −$1.19/SF
EGI
$73.6K $11.89/SF
− OpEx
−$33.1K −$5.35/SF
NOI
$40.5K $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%
$809,840
Cap Rate 7%
$578,457
Cap Rate 9%
$449,911
Alternative Uses
Best Use
Apartment 5plus
$578.5K
$506.2K – $674.9K
NOI $40,492 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,484 @ 7.0% cap · market cap 15.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
11
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
77
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - All-electric residences feature granite kitchens, individual laundry appliances, and tenant parking.
Where is this apartment building located?
The property is located at 48 Whitmar Dr Hammond, LA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 11‑unit apartment complex totaling 6,192 square feet; Near Southeastern Louisiana University and downtown Hammond; All‑electric units with no carpet
