24-Unit Apartment Complex For
111 Teresa Dr Saint Martinville, LA 70582
111 Teresa Dr, Saint Martinville, LA, 70582
Contact for pricing
For Sale
Contact for pricing
24-unit apartment complex with expansion potential in Saint Martinville, LA.
Property Size21,684 SF
Lot Size0.86 Acres
Price / SF$82.35
Days on Market1453
Property Features for 111 Teresa Dr
General Information
- Standard status
- Active
- Size
- 21,684 SF
- Lot size
- 0.86 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 2000
Listing Agency
Saurage Rotenberg Commercial Real Estate
Listed by
Mike Stinson, CCIM · License #LA SALE.0000071948-ACT
Source
Crexi
Added: Jul 26, 2022 Checked: Jul 17 at 5:53 am
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
Investment Insights
Based on property information with market context.
This property features a 24-unit apartment complex comprising twelve 2-bedroom, 1-bath units, each measuring 840 square feet, and twelve 1-bedroom, 1-bath units, each measuring 720 square feet. All leases are for 6-month terms. The complex includes an on-site laundry facility. The property's net operating income (NOI) is $125,000, reflecting a 7% capitalization rate. The complex stays fully leased. The property is located in Flood Zone "X", which requires no flood insurance. Additionally, approximately 0.86 acres are included, offering potential for constructing additional apartments. The property size is 21,684 square feet. Also available is a 136-unit mini-storage unit.
Key Highlights
- High Occupancy: Stays fully leased, ensuring consistent rental income
- Strong Income: $125,000 Net Operating Income (NOI) indicates profitability
- Attractive CAP Rate: 7% CAP Rate suggests a good return on investment
Local 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 | $322.7k | $14.88 |
| − Vacancy | −$29.4k | −$1.35 |
| EGI | $293.3k | $13.53 |
| − OpEx | −$132.0k | −$6.09 |
| NOI | $161.3k | $7.44 |
21,684 SF · lease $14.88/SF/yr · vacancy 9.10% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 24-unit apartment complex with expansion potential in Saint Martinville, LA.
Where is this apartment building located?
The property is located at 111 Teresa Dr 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: High Occupancy: Stays fully leased, ensuring consistent rental income; Strong Income: $125,000 Net Operating Income (NOI) indicates profitability; Attractive CAP Rate: 7% CAP Rate suggests a good return on investment
