90-Unit LIHTC Apartment
For Sale
$2,450,000
902 Moss Oak Dr, New Iberia, LA 70560
Two affordable housing communities offer family-oriented layouts, full occupancy, and established Section 42 regulatory status.
Property Size54,000 SF
Price / SF$45.37
Days on Market161
Property Features for 902 Moss Oak Dr
General Information
Standard status
Active
Size
54,000 SF
Property subtype
Multifamily
Zoning
R-3
Occupancy
100%
Net Operating Income
$358,312
Additional Details
Cap Rate
7.46%
Multifamily Units
90
Amenities
Power
Water
Sewer
Building Details
Year Built
2006
Listing Agency:
Stirling Baton Rouge
Listed By:
Justin Langlois
(225) 445-6434
Source:
Lacdb.resimplifi
Added: Mar 27
Changed: Sep 2
Last Checked: Sep 2 at 2:13PM
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 Stirling Baton Rouge
Investment Insights
Based on property information with market context.
This Louisiana multifamily portfolio includes 90 apartment units across two affordable housing communities: Moss Oaks in New Iberia and Homes at Willow Villas in Hammond. The properties provide three- and four-bedroom, single-family-style residences within a 54,000-square-foot portfolio completed in 2006. Both communities are fully occupied and operate under the LIHTC program’s Section 42 Extended Use requirements.
Current rents remain below applicable maximums, allowing increases to be implemented through the program’s compliance framework. The portfolio is beyond the initial 15-year compliance period, and its in-place cap rate is 7.46%. New Iberia and Hammond are supported by energy, agriculture, tourism, higher education, and medical employment, with the source information identifying Southeastern Louisiana University and North Oaks Medical Center as Hammond anchors. The New Iberia property is located at 902 Moss Oak Dr.
Current rents remain below applicable maximums, allowing increases to be implemented through the program’s compliance framework. The portfolio is beyond the initial 15-year compliance period, and its in-place cap rate is 7.46%. New Iberia and Hammond are supported by energy, agriculture, tourism, higher education, and medical employment, with the source information identifying Southeastern Louisiana University and North Oaks Medical Center as Hammond anchors. The New Iberia property is located at 902 Moss Oak Dr.
Key Highlights
- 90 units across two Louisiana affordable housing communities
- 100% occupancy across the portfolio
- Three- and four‑bedroom single‑family‑style apartment homes
Property Analytics
Property Profile
Current Use
Lease Details
90
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
697
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 - Two affordable housing communities offer family-oriented layouts, full occupancy, and established Section 42 regulatory status.
Where is this apartment building located?
The property is located at 902 Moss Oak Dr New Iberia, LA.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 90 units across two Louisiana affordable housing communities; 100% occupancy across the portfolio; Three- and four‑bedroom single‑family‑style apartment homes
