24-Unit Apartment Building with
For Sale
$1,785,700
111-131 Teresa Drive, Saint Martinville, LA 70582
The property includes one- and two-bedroom units along with an on-site laundry facility.
Property Size21,684 SF
Price / SF$82.35
Days on Market1546
Property Features for 111-131 Teresa Drive
General Information
Standard status
Active
Size
21,684 SF
Total Parking Spaces
30
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$125,000
Units
Unit Mix
12 x 2BR/1BA, 12 x 1BR/1BA
Multifamily Units
24
Additional Details
Cap Rate
7%
Amenities
laundry facility
Water
Sewer
30 Parking Spaces
Building Details
Year Built
2000
Tenancy
Multi-Tenant
Listing Agency:
Saurage Rotenberg Commercial Real Estate, LLC
Listed By:
Michael Stinson
(225) 907-7793
Source:
Lacdb.resimplifi
Added: Jul 26, 2022
Changed: Oct 8
Last Checked: Oct 16 at 5:41AM
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, LLC
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Investment Insights
Based on property information with market context.
This 24-unit apartment property, built in 2000, offers a mix of twelve two-bedroom, one-bath residences measuring 840 square feet each and twelve one-bedroom, one-bath residences measuring 720 square feet each. An on-site laundry facility serves the apartment community, which is described as fully leased. The property is identified as being in Flood Zone X, indicating no flood designation.
The offering includes approximately 0.86 additional acres that could be used for additional apartments. The property is located at 111-131 Teresa Drive in Saint Martinville, Louisiana. The stated 7% cap rate provides an additional investment metric for evaluation.
The offering includes approximately 0.86 additional acres that could be used for additional apartments. The property is located at 111-131 Teresa Drive in Saint Martinville, Louisiana. The stated 7% cap rate provides an additional investment metric for evaluation.
Key Highlights
- 24 apartment units with twelve 2‑bedroom and twelve 1‑bedroom residences
- Two‑bedroom units measure 840 SF each; one‑bedroom units measure 720 SF each
- Approximately 0.86 additional acres included
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
24
Residential units
100%
Occupancy
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The property includes one- and two-bedroom units along with an on-site laundry facility.
Where is this apartment building located?
The property is located at 111-131 Teresa Drive 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: 24 apartment units with twelve 2‑bedroom and twelve 1‑bedroom residences; Two‑bedroom units measure 840 SF each; one‑bedroom units measure 720 SF each; Approximately 0.86 additional acres included
