Multifamily Investment Opportunity
Price
$9,500,000
Executive Summary for 301 Birch Drive, Lafayette, Louisiana 70506
Presenting an exceptional off-market investment opportunity in Lafayette, Louisiana. This multifamily property, featuring 105 well-appointed units, combines modern living with the charm and convenience of its prime location.
Sales Price: $9,500,000
Total Units: 105
Price Per Unit: $90,476
Current Average Rent: $884 - Excelling the 1% Rule
Year Built: 1960
Occupancy Rate: 67%
Units Requiring Preparation: 33%
Property Photos & Financials: https://drive.google.com/drive/folders/1OkQwPEdX_wK2TqheekaIobzpknx7SqXG?usp=share_link
Utility arrangements include common electric paid by the owner, while tenants are responsible for their own electric (metered), and water, sewer, and trash managed through RUBS. All units benefit from Electric Central heating.
Unit Mix:
48 Units (1 bed/1 bath): Approx. 662 sqft, Current Rent $786, Market Rent $860
9 Units (2 bed/1 bath): Approx. 840 sqft, Current Rent $915, Market Rent $975
41 Units (2 bed/2 bath): Approx. 1,000 sqft, Current Rent $947, Market Rent $1,015
7 Units (3 bed/2 bath): Approx. 1,100 sqft, Current Rent $1,108, Market Rent $1,125
Area Demographics - Lafayette, Louisiana: This vibrant community, nestled in Lafayette, is conveniently walkable to local shops and restaurants. The area is witnessing significant development projects, especially in the downtown area, and is experiencing substantial growth in job opportunities and population. Lafayette's market is highly favorable to landlords, with a large demand for rental housing. Rental housing accounts for 44% of all households, with an average household income of $55,329.
Project Management and Completed Capital Expenditures:
Interior Updates: Leasing office remodel, granite/quartz counters, stainless appliances, LVP flooring, updated lighting and fixtures, paint, smart locks on apartment doors, blinds, HVAC.
Exterior Updates: Gazebo/pergola, landscaping, parking lot enhancements, gutters, decking and stair repairs, perimeter fence, security system, signage, pool resurfacing and deck surround.
Completion Status: 74 units completed, 26 medium unit turns, 5 heavy unit turns pending.
Interested investors are encouraged to forward their offers directly to investments@promiselandrealtyllc.com.
Unlock the potential of Lafayette's dynamic real estate market with this prime investment
opportunity at 301 Birch Drive. Don’t let this exclusive offering pass you by.
Aerial Map
"THE #1 SOURCE FOR OFF MARKET INVESTMENT PROPERTIES IN AMERICA"
PROMISE LAND REALTY, LLC
Work: 864-762-2509
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. 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 add your fee on top.
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