Active
8-Unit Apartment Comlex near University
603-614 Yvonne Street, New Iberia, LA 70560
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Overview
Discover a prime investment opportunity with this 6-unit multi-family property in Freetown, perfectly situated within walking distance of the university. Each 2-bedroom, 1-bathroom, 886 sqft unit has been tastefully refreshed with laminate flooring, fresh paint, and more. Currently 100% occupied with tenants responsible for all utilities, this property generates an average rent of approximately $825 per unit, with potential for increases upon renewal. The owner is only responsible for taxes and insurance, making this a fantastic turnkey investment in a high-demand rental area.
For Sale
Multifamily
Secondary Uses: Low Rise
- Sale Price
- $565,000
- Price Per SF
- $106.3/SF
- Cap Rate
- 9.37%
- Building Size
- 5,317 SF
- Acres
- 1.713 ac
- Zoning
- CM-1
- Gross Income
- $60,000
- Net Operating Income
- $52,923
- Showing Instructions
- Contact Broker
- Building Class
- C
- Number of Buildings
- 1
- Floors
- 1
- Construction Siding
- Wood
- Construction Type
- Framed
- Submarket
- C
- Nearest MSA
- Lafayette
- Property Status
- Existing
- In Opportunity Zone
- Yes
- County
- Iberia Parish
- Available
- 07/25/2024
- Created
- 07/26/2024
- Updated
- 03/19/2025
- Listing ID
- 653178bb
- Parcel APN
- 0505309307A