501 Darby Ln, New Iberia, LA 70560
104 Unit Apartment Building | $4,200,000 ($40,385/Unit) | 8.08% Cap Rate | New Iberia, LA 70560
For Sale
Active
39 pictures
Asking Price $4,200,000
- Property Type
-
Multifamily
- Square Feet
- 74,360 SF
Listing Contacts
- Property Info
Property Overview
Link to the Deal Room & Financials: https://www.marcusmillichap.com/properties/148202/spanish-lake-apartments
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
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
Property Details
- Class
- C
- Year Built
- 1974
- Stories
- 2
- Lot Size (sq. ft)
- 522,720 SF
- Units
- 104
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
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].