Promise Land Realty
Mar 62 min
Multifamily Investment Opportunity
Price
Executive Summary for 317 Guilbeau Rd, Lafayette, Louisiana 70506
We are pleased to present an exclusive off-market investment opportunity located in the heart of Lafayette, Louisiana. This unique offering consists of a 128-unit multifamily property, showcasing a blend of comfort, style, and affordability.
Sales Price: $11,700,000
Units: 128
Price Per Unit: $91,406.25
Current Average Rent: $881 - Surpassing the 1% Rule
Year Built: 1970
Occupancy Rate: 71%
Rent Ready Units: 29%
Property Photos & Financials: https://drive.google.com/drive/folders/1Hy0Dqeq46rEzjp7U_zIX6rUZbwh9EY3E?usp=share_link
Utilities are efficiently managed with common electric expenses covered by the owner, while tenants are responsible for individual electric (metered), as well as water, sewer, and trash through RUBS. The property features a mix of heating solutions including PTAC and Electric Central systems.
Unit Mix:
27 Units (1 bed/1 bath): Approx. 660 sqft, Current Average Rent $758, Market Rent Average $800
50 Units (2 bed/1 bath): Approx. 810 sqft, Current Average Rent $872, Market Rent Average $1,000
51 Units (3 bed/1.5 bath): Approx. 1,006 sqft, Current Average Rent $971, Market Rent Average $1,150
Area Demographics - Lafayette, Louisiana: Lafayette offers a landlord-friendly market with a high demand for rental housing, attributed to its vibrant community and continuous growth. The area is walkable to local shops and restaurants, with many significant development plans in place for the downtown area. Lafayette is experiencing substantial growth in both job opportunities and population, making it an ideal location for real estate investments. Notably, rental housing comprises 44% of all households in the area.
Interested parties are encouraged to submit their offers directly to investments@promiselandrealtyllc.com. Proof of Funds (POF) is required for the release of financial details.
Do not miss this opportunity to invest in a property that promises growth, stability, and returns in the thriving community of Lafayette, Louisiana.
Property Map
PROMISE LAND REALTY, LLC
Work: 864-762-2509
sarter@promiselandrealtyllc.com
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors/BROKERS add your fee on top.