$3,890,000

Apartment In New Iberia

  • 168 Beds
  • 74 Baths
  • 61,060 Sqft
  • 6.52 Ac lot
  • Updated: June 11
  • 2
    Views for last 30 days
  • Source:
    Gulf South Real Estate Information Network (GSREIN)  MLS#2562417

About the Property

Monthly Rent: $66,005
Cherrybrook Apartments presents a compelling investment opportunity in one of Acadiana’s stable and growing rental markets. This 74-unit garden-style community delivers a well-balanced mix of workforce housing in a market characterized by consistent tenant demand and durable occupancy. Its classic brick-and-siding construction and established garden-style layout provide l
Monthly Rent: $66,005
Cherrybrook Apartments presents a compelling investment opportunity in one of Acadiana’s stable and growing rental markets. This 74-unit garden-style community delivers a well-balanced mix of workforce housing in a market characterized by consistent tenant demand and durable occupancy. Its classic brick-and-siding construction and established garden-style layout provide low-maintenance appeal that continues to resonate with long-term residents.

The property features a thoughtfully composed unit mix designed to attract a broad tenant base seeking affordability, functionality, and convenience. The community consists of four one-bedroom units, forty-six two-bedroom units, and twenty-four three-bedroom units, offering a versatile range of housing options that supports stable, diversified rental income across the asset.

With no rent restrictions in place, Cherrybrook offers investors immediate operational flexibility and meaningful upside through strategic management and rental optimization. When light cosmetic renovations improve 1-bed rents to $850, 2-bed rents to $950, and 3-bed rents to $1,150, a pro forma net operating income of $426,131 can be realized over 12–24 months (with adjusted property taxes and management fees).

The foregoing measurements, rental income, operating metrics, and pro forma projections are assumed to be reliable based on available information and standard industry assumptions, though investors are advised to conduct independent verification.
  • Property type

    Apartment

  • Floors

    1

  • Year built

    1999

  • Price/sqft

    $63

Features

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1341 20 ARPENT Road, New Iberia, Louisiana, United States View on Google Maps
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Bridgewater Realty Advisors, LLC - Metairie

Joined 8 months ago
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Bridgewater Realty Advisors, LLC - Metairie
Louisiana, United States
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30
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2025
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Bridgewater Realty Advisors, LLC - Metairie
Metairie, Louisiana, United States
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Last updated
June 11
First listed
Jun 11
Listing reference
2562417
Listing status
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