Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Residential Income Property For Sale Title is generated by Realmo AI

    501 Center Park Drive, Springhill, LA 71075

    View on Map
    Claim this Listing
    For Sale
    $60,000

    Currently occupied residential income property, tenants wish to stay.

    Type:Multi-Family / Multiple Single Units
    Property size:
    1,515 SF
    Price / SF:
    $39/SF
    Added:
    May 19, 2026
    Days on Market:
    15
    Last Refresh:
    May 19 at 8:52 pm

    Property Features for 501 Center Park Drive

    General Information

    Standard status
    Active
    Size
    1,515 SF
    Property subtype
    Multi-Family / Multiple Single Units

    Building Details

    Year Built
    1959

    We can help!

    Listing Contact
    Brittany Dickerson

    Listing agent Brittany Dickerson License #0995716382

    Listing office LA State Realty, LLC

    Listing date May 19, 2026

    Source Compass

    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 LA State Realty, LLC

    HighLights

    • Existing tenants provide immediate rental income of $850/month
    • Tenants are interested in remaining in the property
    • Refrigerator included
    • Single‑story home with slab foundation
    • Construction features siding and stone veneer
    • Cable TV available

    Overview

    This residential income property is currently occupied, with tenants expressing a desire to remain. The property is being sold in its current condition. The current rental income is $850 per month. The property size is 1515 square feet.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springhill
    County
    Webster
    State
    Louisiana
    Longitude
    -93.4560627
    Latitude
    32.99947

    Nearby Similar for Sale

    • $149,900

      Springhill Industrial Building with Storage

      7,012 SF light industrial building with covered storage.
      101 NE 1st Street, Springhill, LA 71075
      View Details
    • $190,000
      1,800 SF

      Springhill Office Space For Sale

      Versatile 1,800 SF office space suitable for medical or professional use.
      1104 Doctors, Springhill, LA 71075
      View Details
    • $89,900

      Springhill Warehouse on Large Lot

      8,605 SF warehouse on 1.13 acres near downtown Springhill.
      510 N Giles Street, Springhill, LA 71075
      View Details
    • $55,000

      Springhill Automotive Property For Sale

      Fully equipped tire, oil change, and gas station facility.
      413 S Main Street, Springhill, LA 71075
      View Details
    • $250,000

      Mixed-Use Apartment and Retail Building

      Small Springhill mixed-use building offers multiple income-producing first-floor spaces plus an upstairs apartment.
      130 Main Street, Springhill, LA 71075
      View Details
    • $210,000

      Springhill Retail Buildings For Sale

      Three adjacent retail buildings in Springhill, Louisiana, with a new roof.
      200 NE 1st Street, Springhill, LA 71075
      View Details
    • $130,000
      1,980 SF

      Springhill, LA Commercial Property

      Commercial property in Springhill, Louisiana, suitable for various business ventures.
      807 Mlk Drive, Springhill, LA 71075
      View Details
    • $149,900
      7,012 SF

      7,012 SF Light Industrial Building

      Light industrial building with office and warehouse space for sale.
      101 NE 1st Street, Springhill, LA 71075
      View Details
    • $60,000

      Occupied Multi-Family Rental Property

      Well-positioned rental with current tenants in place and an as-is sale, offering immediate income continuity potential.
      501 Center Park Drive, Springhill, LA 71075
      View Details
    • $89,900
      8,605 SF

      Warehouse on Giles Street, Springhill

      8,605 SF warehouse on 1.13 acres near downtown.
      510 N Giles Street, Springhill, LA 71075
      View Details
    • $210,000
      6,250 SF

      Higginbotham Buildings For Sale

      Three buildings sharing a roof, currently with one tenant.
      200 NE 1st Street, Springhill, LA 71075
      View Details
    • $450,000
      30,000 SF

      Former Hospital Building For Sale

      Former hospital building divided into 6 separate buildings with tenants.
      111 NE 1st, Springhill, LA 71075
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Currently occupied residential income property, tenants wish to stay.
    Where is this multifamily property located?
    The property is located at 501 Center Park Drive Springhill, LA.
    What is the asking price?
    The asking price for this property is $60,000.
    What are key features of this property?
    This property features: Existing tenants provide immediate rental income of $850/month; Tenants are interested in remaining in the property; Refrigerator included
    (318) 489-8869
    We can help!
    Listing Contact
    Brittany Dickerson
    Real Estate License ID: 0995716382
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    501 Center Park Drive, Springhill, LA 71075
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!