Current Use by Public Records
- Apartment buildings
Property Details for 111 Teresa Dr
- Year built
- 2000
- Property type
- Apartment buildings
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Saint Martinville
- County
- St. Martin Parish
- State
- Louisiana
- Longitude
- -91.823
- Latitude
- 30.1419
