24-Unit Apartment Complex For
For Sale
$1,785,700
111 121 131 Teresa Dr., Saint Martinville, LA 70582
24-unit apartment complex with expansion potential in Saint Martinville, LA.
Property Size21,684 SF
Lot Size0.86 Acres
Price / SF$82.35
Days on Market207
Property Features for 111 121 131 Teresa Dr.
General Information
Standard status
Active
Size
21,684 SF
Lot size
0.86 Acres
Property subtype
Multi-Family
Building Details
Building Size
21,684 SF
Units
24
Listing Agency:
Saurage Rotenberg Commercial Real Estate
Listed By:
Mike Stinson, CCIM · License #SALE.0000071948-ACT
Source:
Commercialcafe
Added: Mar 26
Changed: Oct 11
Last Checked: Oct 16 at 6:18AM
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 Saurage Rotenberg Commercial Real Estate
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Investment Insights
Based on property information with market context.
This property features a 24-unit apartment complex comprising twelve 2-bedroom, 1-bath units, each measuring 840 square feet, and twelve 1-bedroom, 1-bath units, each measuring 720 square feet. All leases are for 6-month terms. The complex includes an on-site laundry facility. The property's net operating income (NOI) is $125,000, reflecting a 7% capitalization rate. The complex stays fully leased. The property is located in Flood Zone "X", which requires no flood insurance. Additionally, approximately 0.86 acres are included, offering potential for constructing additional apartments. The property size is 21,684 square feet. Also available is a 136-unit mini-storage unit.
Key Highlights
- High Occupancy: Stays fully leased, ensuring consistent rental income
- Strong Income: $125,000 Net Operating Income (NOI) indicates profitability
- Attractive CAP Rate: 7% CAP Rate suggests a good return on investment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,313
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,226,260
$3.2M
Cap Rate 7%
$2,304,471
$2.3M
Cap Rate 9%
$1,792,367
$1.8M
Market Conditions
NOI Build-Up for 21,684 SF
Gross rent
$322.7K $14.88/SF
− Vacancy
−$29.4K −$1.35/SF
EGI
$293.3K $13.53/SF
− OpEx
−$132.0K −$6.09/SF
NOI
$161.3K $7.44/SF
Area
St. Martin County, LA
Vacancy
9.10%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,226,260
Cap Rate 7%
$2,304,471
Cap Rate 9%
$1,792,367
Alternative Uses
Best Use
Apartment 5plus
$2.30M
$2.02M – $2.69M
NOI $161,313 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.76M
$4.17M – $5.56M
NOI $333,326 @ 7.0% cap · market cap 18.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 70582, LA
19,088
Population
9,122
Households
2.1
Avg Household Size
41
Median Age
13%
College-Educated
84%
High-School Grad
148.0 sq mi
ZIP Area
129
Density / Sq Mi
$46,690
Median Household Income
$36,265
Median Earnings
$787
Median Rent
$149,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 24-unit apartment complex with expansion potential in Saint Martinville, LA.
Where is this apartment building located?
The property is located at 111 121 131 Teresa Dr. Saint Martinville, LA.
What is the asking price?
The asking price for this property is $1,785,700.
What are key features of this property?
This property features: High Occupancy: Stays fully leased, ensuring consistent rental income; Strong Income: $125,000 Net Operating Income (NOI) indicates profitability; Attractive CAP Rate: 7% CAP Rate suggests a good return on investment
