Investment Package Deal - Multiple Rentals

Multi-Family for Sale
Catylist Listing ID: 30317046
Property Subtypes: Duplex/Fourplex, Mobile Home Park
Number of Units: 9 Units
Building Size (RSF): 6,190 SF
Gross Land Area: 2.28 SF
Sale Price: $550,000
Unit Price: $61,111.11 Per Unit
Property Use Type: Investment
Usable Size (USF): 6,190 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 714
Last Updated: 8/14/2018

Overview / Comments

Complete Rental Investment package Deal for sale in New Iberia, LA. This property is a mix of Duplexes, Mobile Homes & Mobile Home Rental spaces (9 spaces). Seller is renting (2) Mobile home spaces, and there are (4) spaces open for rent. The three mobile homes which are owned are 100% occupied and the 2 Duplexes are 75% tenant occupied.

Additional Details

Nearest MSA: Lafayette
County: Iberia
Zoning: RESIDENTIAL
Percent Occupied: 875%
Property Located Between: Avery island Road & South Lewis Street perpendicular to the Frontage road which parallels HWY 90.
Highway Access: E HWY 90 Exit 128 left, 2 lights right (to Avery Island), right onto the Frontage Road, look for the FOR SALE SIGN OUT FRONT and the two duplexes on the left about 1/4 miles after turning on the frontage road.
Site Description: Property is 2.28 acres located just off of the Frontage Road on Hwy 90 East in New Iberia. Property consists of 2 duplexes, 5 mobile homes in the which the property owner owns three of the Mobile homes and rents 2 of the available 6 Mobile Home rental spaces. Property has never flooded in the 11 years the property owner has taken possession. Owner has invested in an improved drainage system/sewer system by investing over $20,000 to have the city design and connect the drainage/sewer system to the city's drainage/sewer system.
Area Description: Area consists of a mix of commercial & residential zoning having a private paved road into the property which also dead ends at the far end of the property. Access to HWY 90, retail stores, and various other businesses is within 5 minute drive of the property for sale.
Total Number of Buildings: 7
Property Condition: Excellent
Number of Stories: 1
Roof Type: Gable
Construction/Siding: Aluminum Siding
Exterior Description: Wood Frame Duplexes with aluminum siding and 16X80 single wide trailer with Aluminum siding.
Parking Type: Surface
Parking Description: Duplexes have 4 spaces each of the mobile homes have two spaces.
Total Parking Spaces: 20
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Air Conditioning: Other
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: 100%
Legal Description: 1-220/130 X 475/454 (2.28 AC) LOTS 21,22,23,24, HWY 90, ROMERO, LOT 2 IN SEC 37&27, T12S, R6E IMP (705 & 709 E HWY 90)

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,018 27,969 44,853
Median Age: 41.48 34.89 35.67
Households: 791 10,546 16,633

Contact

Photograph of Listing Agent

Michael Chapple

Van Eaton & Romero
Lafayette, LA
The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.