12-Unit Apartment
For Sale
$499,000
1318-1320 Delasalle Drive, New Iberia, LA 70560
Residential Income, New Iberia, LA
Property Size7,500 SF
Price / SF$66.53
Days on Market990
Property Features for 1318-1320 Delasalle Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
1520
Parking features
Parking Lot
Appliances
Refrigerator, Electric Range, Gas Range
Elementary school
Pesson
Middle school
Iberia
High school
New Iberia
Directions
From Hwy 90 to New Iberia, exit Center Street. Go into New Iberia, turn Right on Delasalle Drive. The apartments on the Left.
Subdivision
I2
Standard status
Active
APN
0503009000
Size
7,500 SF
Taxes and HOA fees
Tax Description
100x108 ITEM 2LOT 9, LOT 7 DELASALLE DR, GIROUARD STBEING LOT 8, GEORGE CASTILLE SUB #2IMP (1318 DE LASALLE DR)
Legal Description
100x108 ITEM 2LOT 9, LOT 7 DELASALLE DR, GIROUARD STBEING LOT 8, GEORGE CASTILLE SUB #2IMP (1318 DE LASALLE DR)
Utilities
Cooling system
Window Unit(s)
Building Details
Floors in Building
2
Number of units
12
Building materials
Block, Brick
Roof type
Metal
Listing Agency:
Keller Williams Realty Acadiana
(337) 735-9300
Listed By:
Lori Lege' · License #0995693945
(337) 962-7070
Added: Dec 29, 2023
Changed: Sep 13
Last Checked: Sep 14 at 7:06AM
MLS# 24000059
Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 12-unit multifamily property comprises two buildings totaling 7,500 square feet. Unit features include refrigerators, electric ranges, and gas ranges, with cooling provided by window unit(s). Construction incorporates block and brick materials, while the buildings are topped with metal roofing.
The property is located at 1318-1320 Delasalle Drive in New Iberia, Louisiana. On-site parking is provided through a parking lot, supporting the residential configuration.
The property is located at 1318-1320 Delasalle Drive in New Iberia, Louisiana. On-site parking is provided through a parking lot, supporting the residential configuration.
Key Highlights
- 12‑unit multifamily property across two buildings
- 7,500 square feet of total property size
- Refrigerators, electric ranges, and gas ranges
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,788
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$915,760
$915.8K
Cap Rate 7%
$654,114
$654.1K
Cap Rate 9%
$508,756
$508.8K
Market Conditions
NOI Build-Up for 7,500 SF
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.
Gross rent
$90.0K $12.00/SF
− Vacancy
−$6.8K −$0.90/SF
EGI
$83.3K $11.10/SF
− OpEx
−$37.5K −$5.00/SF
NOI
$45.8K $6.11/SF
Area
Iberia County, LA
Vacancy
7.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$915,760
Cap Rate 7%
$654,114
Cap Rate 9%
$508,756
Alternative Uses
Best Use
Apartment 5plus
$654.1K
$572.4K – $763.1K
NOI $45,788 @ 7.0% cap · market cap 9.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,832 @ 7.0% cap · market cap 17.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 70560, LA
39,457
Population
16,970
Households
2.3
Avg Household Size
38
Median Age
11%
College-Educated
80%
High-School Grad
176.1 sq mi
ZIP Area
224
Density / Sq Mi
$48,296
Median Household Income
$31,864
Median Earnings
$886
Median Rent
$126,500
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?
Apartment building - Two-building multifamily property with on-site parking and included kitchen appliances.
Where is this apartment building located?
The property is located at 1318-1320 Delasalle Drive New Iberia, LA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 12‑unit multifamily property across two buildings; 7,500 square feet of total property size; Refrigerators, electric ranges, and gas ranges
