16-Unit Apartment
New
For Sale
$1,420,000
50 WHITMAR Drive, Hammond, LA 70401
16 all-electric units with city water and sewer, newer roof and windows, and on-site coin laundry for tenants.
Days on Market6
Property Features for 50 WHITMAR Drive
General Information
Standard status
Active
Property subtype
Apartment
Additional Details
Utilities to Site
Yes
Multifamily Units
16
Amenities
on-site coin laundry
Building Details
Building Size
8,795 SF
Year Built
1992
Listing Agency:
Appletree Realty, LLC
(504) 272-7288
Listed By:
Cindy Ng · License #995684283
(504) 272-7288
Source:
Talbot-realty
Added: Jul 27
Changed: Jul 30
Last Checked: Aug 1 at 2:18AM
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
Investment Insights
Based on property information with market context.
This 16-unit apartment building was built in 1992 and features newer roof and newer windows. The units are all-electric with no gas service, and the property has city utilities including water and sewer. Interiors are described as having no carpet. Kitchens are equipped with granite countertops, range/ovens, and refrigerators.
On-site coin laundry is available, providing an additional amenity for residents. Parking is provided in both front and back parking lots. High-speed internet is available with several providers to choose from.
The property is located in the vicinity of Southeastern Louisiana University and downtown Hammond, supporting tenant access to both campus and city conveniences.
On-site coin laundry is available, providing an additional amenity for residents. Parking is provided in both front and back parking lots. High-speed internet is available with several providers to choose from.
The property is located in the vicinity of Southeastern Louisiana University and downtown Hammond, supporting tenant access to both campus and city conveniences.
Key Highlights
- 16‑unit apartment building built in 1992
- Newer roof and newer windows
- All‑electric units with no gas service
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $115.0k | $13.08 |
| − Vacancy | −$10.5k | −$1.19 |
| EGI | $104.6k | $11.89 |
| − OpEx | −$47.1k | −$5.35 |
| NOI | $57.5k | $6.54 |
8,795 SF · lease $13.08/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$821.6K
$718.9K – $958.6K
NOI $57,514 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,713 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
206
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 16 all-electric units with city water and sewer, newer roof and windows, and on-site coin laundry for tenants.
Where is this apartment building located?
The property is located at 50 WHITMAR Drive Hammond, LA.
What is the asking price?
The asking price for this property is $1,420,000.
What are key features of this property?
This property features: 16‑unit apartment building built in 1992; Newer roof and newer windows; All‑electric units with no gas service
