Turnkey 12-Plex in Opportunity
For Sale
$670,000
314 Deare Street, New Iberia, LA 70560
MULTI_FAMILY - New Iberia, LA
Property Size5,712 SF
Price / SF$117.30
Days on Market433
Property Features for 314 Deare Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
24
Parking features
Parking Lot
Appliances
Dishwasher, Refrigerator, Electric Range
Subdivision
Twin Circle
Elementary school
Call School Board
Middle school
Call School Board
High school
Call School Board
Elementary school district
Iberia Parish
Middle school district
Iberia Parish
High school district
Iberia Parish
Directions
St Peter Street going East turn right on Deare St. Apartments on the right.
Standard status
Active
APN
0503471000
Size
5,712 SF
Taxes and HOA fees
Tax Description
BEING LOTS 15 & 16, TWIN CIRCLE SUB
Legal Description
BEING LOTS 15 & 16, TWIN CIRCLE SUB
Utilities
Cooling system
Window Unit(s)
Water source
Public
Building Details
Number of units
12
Flooring type
Vinyl
Building materials
Block
Roof type
Composition
Listing Agency:
Keller Williams Realty Acadiana
(337) 735-9300
Listed By:
Nah Senpeng · License #99562982
(337) 349-8869
Added: May 24, 2025
Changed: May 13
Last Checked: Jul 30 at 2:06PM
MLS# 2020024186
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 is a turnkey 12-plex located in an Opportunity Zone. The property features eleven 1-bedroom units and one 2-bedroom unit. The single-story complex has been fully renovated and is designed for easy management and long-term durability, featuring concrete and cinder block construction. The property is low maintenance and ready to generate income immediately. The complex contains 5712 square feet. Showings are available by appointment only.
Key Highlights
- Turnkey 12‑Plex: Ready to generate income immediately.
- Fully Renovated: Modern updates throughout the complex.
- Opportunity Zone: Potential tax benefits for investors.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.5k | $12.00 |
| − Vacancy | −$5.1k | −$0.90 |
| EGI | $63.4k | $11.10 |
| − OpEx | −$28.5k | −$5.00 |
| NOI | $34.9k | $6.11 |
5,712 SF · lease $12.00/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$498.2K
$435.9K – $581.2K
NOI $34,872 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.7K
$826.6K – $1.10M
NOI $66,131 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
462
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Newly remodeled 12-unit complex, ready to generate income.
Where is this apartment building located?
The property is located at 314 Deare Street New Iberia, LA.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: Turnkey 12‑Plex: Ready to generate income immediately.; Fully Renovated: Modern updates throughout the complex.; Opportunity Zone: Potential tax benefits for investors.
