44-Unit Apartment
For Sale
$1,900,000
603 YVONNE Street, New Iberia, LA 70560
Uniform two-bedroom apartments with central air, separate utility metering, and in-place occupancy.
Property Size26,004 SF
Days on Market16
Property Features for 603 YVONNE Street
General Information
Standard status
Active
Size
26,004 SF
Net Rentable
26,004 SF
Property subtype
Apartment
Units
Unit Mix
44 x 2BR/1.5BA
Multifamily Units
44
Additional Details
Utilities to Site
Yes
Building Details
Building Size
26,004 SF
Year Built
1985
Buildings
11
Stories
1
Listing Agency:
Bridgewater Realty Advisors, LLC
(504) 274-2701
Listed By:
Mason McCullough · License #LA9705
Source:
Burkbrokerage
Added: Aug 14
Changed: Aug 27
Last Checked: Aug 26 at 1:37PM
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.
Located at 603 Yvonne Street in New Iberia, Village Park comprises eleven single-story four-plexes totaling 44 apartments. Each residence offers two bedrooms, one and a half bathrooms, approximately 591 square feet, a stove, refrigerator, and central air. The property contains roughly 26,004 rentable square feet across contiguous lots.
Twenty-five units have been refreshed, and the roofs are approximately four years old. Separate metering is in place for each unit, with residents paying electricity, gas, and water. There are currently 21 occupied units, while the remaining apartments are available for improvement or tenant placement. The property was built in 1985.
Twenty-five units have been refreshed, and the roofs are approximately four years old. Separate metering is in place for each unit, with residents paying electricity, gas, and water. There are currently 21 occupied units, while the remaining apartments are available for improvement or tenant placement. The property was built in 1985.
Key Highlights
- 44‑unit apartment property arranged as eleven single‑story four‑plexes
- Uniform unit mix: 2 BR / 1.5 BA apartments averaging approximately 591 sqft
- Approximately 26,004 rentable square feet across contiguous lots
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$158,754
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,175,080
$3.2M
Cap Rate 7%
$2,267,914
$2.3M
Cap Rate 9%
$1,763,933
$1.8M
Market Conditions
NOI Build-Up for 26,004 SF
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.
Gross rent
$312.0K $12.00/SF
− Vacancy
−$23.4K −$0.90/SF
EGI
$288.6K $11.10/SF
− OpEx
−$129.9K −$5.00/SF
NOI
$158.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,175,080
Cap Rate 7%
$2,267,914
Cap Rate 9%
$1,763,933
Alternative Uses
Best Use
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,754 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.30M
$3.76M – $5.02M
NOI $301,064 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
44
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
225
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 - Uniform two-bedroom apartments with central air, separate utility metering, and in-place occupancy.
Where is this apartment building located?
The property is located at 603 YVONNE Street New Iberia, LA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 44‑unit apartment property arranged as eleven single‑story four‑plexes; Uniform unit mix: 2 BR / 1.5 BA apartments averaging approximately 591 sqft; Approximately 26,004 rentable square feet across contiguous lots
