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Multifamily

Spanish Lake Apartments

501 Darby Ln, New Iberia, LA 70560

Listing Price: $4,200,000

Cap Rate
8.08%
Number of Units
104
GRM
4.30
Price/Unit
$40,385
Price/Gross SF
$56.48
Gross SF
74,360

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale this property in New Iberia, LA. This offering will allow a potential investor to purchase a rare value-add opportunity.

Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. Offers should be delivered to the attention of the Listing Agents.

AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE SPANISH LAKES APARTMENTS

Investment Highlights

  • $285,00 Spent on capital improvements in the last 36 months
  • Roofs were replaced between 2019-2023. Laundry room/office roof replaced in 2016
  • Spanish Lake Apartments pays for water (it's included in tenant's rent) There are 2 Water Meters on the property
  • Tenants pay for Electricity. Spanish Lake pays for trash and there is a contract with Republic Services until February 2026.
  • Buildings are built on a slab

Exclusively Listed By

Financing By

Multifamily

Spanish Lake Apartments

Listing Price: $4,200,000

Cap Rate
8.08%
Number of Units
104
GRM
4.30
Price/Unit
$40,385
Price/Gross SF
$56.48
Gross SF
74,360

Investment Highlights

  • $285,00 Spent on capital improvements in the last 36 months
  • Roofs were replaced between 2019-2023. Laundry room/office roof replaced in 2016
  • Spanish Lake Apartments pays for water (it's included in tenant's rent) There are 2 Water Meters on the property
  • Tenants pay for Electricity. Spanish Lake pays for trash and there is a contract with Republic Services until February 2026.
  • Buildings are built on a slab

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale this property in New Iberia, LA. This offering will allow a potential investor to purchase a rare value-add opportunity. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. Offers should be delivered to the attention of the Listing Agents. AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE SPANISH LAKES APARTMENTS

Exclusively Listed By

Financing By

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