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    111 Teresa Dr Saint Martinville, LA 70582

    For Sale
    $1,785,700

    24-Unit Multifamily Investment Opportunity

    Property size:
    21,684 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional 24-unit apartment complex in Saint Martinville, Louisiana, presents a compelling investment opportunity. The property boasts a total of 21,684 square feet across three buildings, constructed in 2000. The complex comprises twelve 2-bedroom, 1-bathroom units (840 sq ft each) and twelve 1-bedroom, 1-bathroom units (720 sq ft each). All units are currently occupied under six-month leases, resulting in a 100% occupancy rate and a strong net operating income (NOI) of $125,000, yielding a 7% capitalization rate. The asking price is $1,785,700, translating to $74,404.17 per unit. The property sits on a sizable 75,359 square foot lot, offering approximately 0.86 additional acres for potential expansion. On-site laundry facilities add convenience for residents. The property is located in Flood Zone X, eliminating flood insurance concerns. Ample parking is provided with 30 spaces. The property's APN is 15801B2331. This well-maintained, consistently leased complex offers a stable and attractive return on investment.

    Property Features for 111 Teresa Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    21,684 SF

    Building Details

    Year Built
    2000
    Buildings
    3
    Units
    24

    HighLights

    • Exceptional 24‑unit apartment complex in Saint Martinville, LA.
    • 21,684 square feet across three buildings, built in 2000.
    • Twelve 2‑bedroom/1‑bathroom units (840 sq ft each) and twelve 1‑bedroom/1‑bathroom units (720 sq ft each).
    • 100% occupancy with six‑month leases, $125,000 NOI, 7% cap rate.
    • $1,785,700 asking price ($74,404.17 per unit).
    • 75,359 sq ft lot (approx. 0.86 acres), on‑site laundry, 30 parking spaces, APN 15801B2331.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Auto Repair Shop Gym & Fitness Pharmacy Accounting Firm Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Saint Martinville
    County
    St. Martin Parish
    State
    Louisiana
    Longitude
    -91.82295157
    Latitude
    30.14186641

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    FAQs

    What type of property is this?
    Multifamily property - 24-Unit Multifamily Investment Opportunity
    Where is this multifamily property 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: Exceptional 24-unit apartment complex in Saint Martinville, LA.; 21,684 square feet across three buildings, built in 2000.; Twelve 2-bedroom/1-bathroom units (840 sq ft each) and twelve 1-bedroom/1-bathroom units (720 sq ft each).
    Request Owner's contact information
    111 Teresa Dr Saint Martinville, LA 70582
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    111 Teresa Dr Saint Martinville, LA 70582
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