Garden-Style Apartment
For Sale
$3,890,000
1341-20 Arpent Road, New Iberia, LA 70560
Garden-style 74-unit apartment community with brick-and-siding construction and a mix of one-, two-, and three-bedrooms.
Property Size61,060 SF
Price / SF$63.71
Days on Market90
Property Features for 1341-20 Arpent Road
General Information
Standard status
Active
Size
61,060 SF
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Additional Details
Multifamily Units
74
Building Details
Year Built
1999
Listing Agency:
Bridgewater Realty Advisors, LLC
(504) 535-5680
Listed By:
Cameron Griffin · License #995696437
(504) 535-5680
Source:
Compass
Added: May 2
Changed: Jul 22
Last Checked: Jul 29 at 2:00PM
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 Bridgewater Realty Advisors, LLC
Investment Insights
Based on property information with market context.
Cherrybrook Apartments is a 74-unit garden-style community with brick-and-siding construction and an established layout designed around a diversified unit mix. The property consists of four one-bedroom units, forty-six two-bedroom units, and twenty-four three-bedroom units.
The community has no rent restrictions in place, providing operational flexibility. According to available information, light cosmetic renovations could support revised rent levels of $850 for one-bedrooms, $950 for two-bedrooms, and $1,150 for three-bedrooms. The provided materials further indicate a projected pro forma net operating income of $426,131 over a 12–24 month period, assuming adjusted property taxes and management fees. Investors are advised to conduct independent verification of the underlying measurements, income, expenses, and assumptions.
The community has no rent restrictions in place, providing operational flexibility. According to available information, light cosmetic renovations could support revised rent levels of $850 for one-bedrooms, $950 for two-bedrooms, and $1,150 for three-bedrooms. The provided materials further indicate a projected pro forma net operating income of $426,131 over a 12–24 month period, assuming adjusted property taxes and management fees. Investors are advised to conduct independent verification of the underlying measurements, income, expenses, and assumptions.
Key Highlights
- 74‑unit garden‑style apartment community built in 1999
- Unit mix: 4 one‑bed, 46 two‑bed, and 24 three‑bed apartments
- Monthly rent listed as $66,005; no rent restrictions in place
Property Analytics
Current Use
Lease Details
74
Residential units
Location Intelligence
Trade Area within ½ mile
565
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Garden-style 74-unit apartment community with brick-and-siding construction and a mix of one-, two-, and three-bedrooms.
Where is this apartment building located?
The property is located at 1341-20 Arpent Road New Iberia, LA.
What is the asking price?
The asking price for this property is $3,890,000.
What are key features of this property?
This property features: 74‑unit garden‑style apartment community built in 1999; Unit mix: 4 one‑bed, 46 two‑bed, and 24 three‑bed apartments; Monthly rent listed as $66,005; no rent restrictions in place
