12-Unit Apartment
For Sale
$499,000
Pending
1318-1320 Delasalle Drive, New Iberia, LA 70560
Residential Income, New Iberia, LA
Property Size7,500 SF
Days on Market1019
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, 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
Pending
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: Oct 8
Last Checked: Oct 13 at 9:06AM
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. Construction materials include block and brick, with metal roofing and window-unit cooling. The property includes a parking lot, and appliances listed include refrigerators and electric and gas ranges.
Located at 1318-1320 Delasalle Drive in New Iberia, the property is configured as an apartment complex across two buildings.
Located at 1318-1320 Delasalle Drive in New Iberia, the property is configured as an apartment complex across two buildings.
Key Highlights
- 12 apartment units across two buildings
- 7,500 square feet total
- Block and brick construction with metal roofing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,788
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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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
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings provide a multifamily configuration with on-site parking and window-unit cooling.
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 apartment units across two buildings; 7,500 square feet total; Block and brick construction with metal roofing
