Multifamily Duplex Portfolio Near Southeastern University

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30736742
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden
Status: Pending
Number of Units: 10 Units
Building Size (RSF): 10,000 SF
Gross Building Area: See Agent
Gross Land Area: 0.97 SF
Sale Price: $900,000
Unit Price: $90,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/20/2021

Overview / Comments

Property Summary:
- This Duplex Portfolio located on Cassie Lane consists of five, two-unit buildings all adjacent to one another on a ±0.97-acre lot.
- Cassie Lane is the common entrance drive that connects to Greco Road just north of Kohnke Hill Road.
- Parking for residents is directly in front of each unit with a total of ±20 parking spaces.
- All units are 2 bed / 2 bath and 1,000 RSF each.
- Two of the buildings were constructed in 2010 and the three on the eastern portion of the property were completed in 2019.
- The property has little-to-no deferred maintenance. The parking and entrance drives are in excellent condition.

Location Summary:
- The portfolio is located just off I-55 in Hammond, LA and only a 4-Minute drive from the campus of Southeastern Louisiana University (14,461 Enrollment).
- Downtown Hammond is just a 10-minute drive.
- The surrounding area is primarily single-family and multifamily residential.

Financial Summary:
- Occupancy (6/1/2021): 100%
- Proforma Net Operating Income: See Offering Memorandum
- Proforma Cap Rate: See Offering Memorandum

Attachments & Media

Additional Details

Nearest MSA: Hammond
County: Tangipahoa
Submarket/Township: 85
Tax ID/APN: 1011006.000000000000000
Percent Occupied: 100%
Total Number of Buildings: 5
Property Condition: Excellent
Number of Stories: 1
Year Built: 2019
Lot Frontage: 125

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,479 27,988 49,984
Median Age: 26.24 28.95 31.07
Households: 1,061 10,424 18,720


Photograph of Listing Agent

Keagan Finley

Elifin Realty Baton Rouge, LA 70801
LACDB Member
Photograph of Listing Agent

Mark R Segalla

Elifin Realty Baton Rouge, LA 70801
LACDB Member
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