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: 6/21/2021

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
Zoning: NO ZONING
Percent Occupied: 100%
Total Number of Buildings: 5
Property Condition: Excellent
Number of Stories: 1
Year Built: 2019
Lot Frontage: 125

View FullscreenMap

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

Contact

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
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.