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Buy&Hold (MULTIFAMILY): (105 UNITS) 301 BIRCH DR, LAFAYETTE, LA 70506 + $9,500,000

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%



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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