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218 St Peter St - 22-Unit Multi-Family 10,544 SF Flex Condo Unit Offered at $700,000 in New Iberia, LA 70560
INVESTMENT HIGHLIGHTS
- 22-Units | Recent Capital Expenditures | Well Below Market Rent
- Landlord Paid Utilities | Full Service Utility Structure
- Located in New Iberia, LA | Zoned C-2 | Centralized Location
- Asset with Solid Construction | Long Term Hold Potential
EXECUTIVE SUMMARY
• Landlord is responsible for electric and gas • Landlord currently pays for water, sewer and trash • Utility expenses are not passed through to tenants, limiting RUBS or cost recovery opportunities
PROPERTY FACTS
| Total Building Size | 10,544 SF | Typical Floor Size | 3,515 SF |
| Property Type | Multifamily (Condo) | Year Built | 1950 |
| Property Subtype | Apartment | Lot Size | 0.49 AC |
| Building Class | C | Parking Ratio | 1.9/1,000 SF |
| Floors | 3 | Opportunity Zone |
Yes
|
| Zoning | C2 - C2 Commercial Zoning | ||
| Total Building Size | 10,544 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | C |
| Floors | 3 |
| Typical Floor Size | 3,515 SF |
| Year Built | 1950 |
| Lot Size | 0.49 AC |
| Parking Ratio | 1.9/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C2 - C2 Commercial Zoning |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Kitchen
SITE AMENITIES
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
1 UNIT AVAILABLE
Unit 22
| Unit Size | 10,544 SF | Condo Use | Flex |
| Price | $700,000 | Sale Type | Investment |
| Price Per SF | $66.39 | No. Parking Spaces | 20 |
| Unit Size | 10,544 SF |
| Price | $700,000 |
| Price Per SF | $66.39 |
| Condo Use | Flex |
| Sale Type | Investment |
| No. Parking Spaces | 20 |
DESCRIPTION
- Positioned along LA-182 just past Jefferson Street, in a high-traffic corridor
- The asset benefits from nearby access to Highway 674 (13,700 VPD), Highway 90 (34,300 VPD), and Highway 14 (17,100 VPD), making this an ideal, centralized location with easy commutes
- Zoned C-2, providing flexibility for continued multifamily use or future redevelopment
Located in Iberia Parish within the I-2 submarket, with established multifamily demand
SALE NOTES
- Unique value-add opportunity with a mix of fully furnished units through rental adjustments by bringing the tenants up to market rates
- Significant recent capital expenditures, including a $50,000 generator was recently installed, adding to the property’s operational resilience
- Community laundry and tenant-ready features such as ceiling fans and cable-ready access
Unit interiors vary, providing potential for cosmetic upgrades and rental upside
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218 St Peter St - 22-Unit Multi-Family
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