Multifamily Properties with Covered Outdoor
For Sale
$120,000
Pending
611 E Park Ave, Hammond, LA 70403
Two residential properties with multiple living spaces, mature trees, and repair needs suited to a renovation project.
Property Size864 SF
Days on Market58
Property Features for 611 E Park Ave
General Information
Standard status
Pending
Size
864 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
in need of repairs and updating
Amenities
ceiling fans
covered patio and porch
mature trees
grassy yard areas
Building Details
Buildings
2
Listing Agency:
Keller Williams Realty Services
(985) 727-7000
Listed By:
Louis Williams · License #73679
(985) 237-0712
Source:
Exprealty
Added: Aug 14
Changed: Oct 4
Last Checked: Oct 9 at 11:57PM
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 Keller Williams Realty Services
Investment Insights
Based on property information with market context.
This offering includes two residential properties with multiple living spaces and functional interior layouts. The homes feature spacious living areas, abundant windows, ceiling fans, closets, mixed flooring, and kitchens with ample cabinet and counter space, double-basin sinks, and backsplash details. Bathrooms include tub-and-shower combinations with vanity storage.
Exterior features include mature trees, grassy yard areas, covered patio space, and covered porches. Built in 1959, the properties require repairs and updating, allowing the next owner to renovate the interiors and exterior areas according to their plans.
Exterior features include mature trees, grassy yard areas, covered patio space, and covered porches. Built in 1959, the properties require repairs and updating, allowing the next owner to renovate the interiors and exterior areas according to their plans.
Key Highlights
- Two multifamily properties offered together
- Built in 1959
- Multiple living spaces with functional layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$5,650
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$113,000
$113.0K
Cap Rate 7%
$80,714
$80.7K
Cap Rate 9%
$62,778
$62.8K
Market Conditions
NOI Build-Up for 864 SF
Gross rent
$11.3K $13.08/SF
− Vacancy
−$1.0K −$1.19/SF
EGI
$10.3K $11.89/SF
− OpEx
−$4.6K −$5.35/SF
NOI
$5.6K $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%
$113,000
Cap Rate 7%
$80,714
Cap Rate 9%
$62,778
Alternative Uses
Best Use
Apartment 5plus
$80.7K
$70.6K – $94.2K
NOI $5,650 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$238.2K
$208.4K – $277.9K
NOI $16,672 @ 7.0% cap · market cap 13.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
Explore this area
Business Placement
Demographics for 70403, LA
29,737
Population
13,577
Households
2.2
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
42.3 sq mi
ZIP Area
703
Density / Sq Mi
$50,547
Median Household Income
$32,603
Median Earnings
$992
Median Rent
$207,600
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two residential properties with multiple living spaces, mature trees, and repair needs suited to a renovation project.
Where is this multifamily property located?
The property is located at 611 E Park Ave Hammond, LA.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Two multifamily properties offered together; Built in 1959; Multiple living spaces with functional layouts
