For Sale
$560,000

143 Martin Luther King Jr Dr Lafayette, LA 70501

12-unit building, high rental demand

Overview

Added:
Dec 11, 2024
Days on market:
136
This exceptional multifamily investment opportunity presents a 12-unit apartment complex ideally situated in Lafayette, Louisiana, at 143 Martin Luther King Jr Dr, zip code 70501. The property boasts a total of 7,020 square feet across two, two-story buildings situated on a 0.84-acre lot (36,590 square feet). Built in 1980, the complex comprises six one-bedroom and six two-bedroom apartments, generating monthly rental income ranging from $525 to $675. Adding to the income stream is a separate 1-bedroom, 1-bathroom house renting for $350 per month, and a 600-square-foot warehouse providing valuable storage space for maintenance and lawn equipment. Ample parking is available with 20 spaces. The asking price is $560,000, translating to $46,667 per unit and $79.77 per square foot. This property's location near I-10 ensures high occupancy rates within a sought-after rental market. The property's APN is 6068886. This is a strong investment opportunity with significant potential for future growth and return.

Highlights

  • 0.84-acre site, totaling 36,590 square feet.

Property Details for 143 Martin Luther King Jr Dr

Property type
Apartment buildings
Square Feet
7,020 SF
Year Built
1980
Buildings
2
Stories
2
Lot Size (sq. ft)
36,590 SF
Units
12

Location Insight

City
Lafayette
County
Lafayette Parish
State
Louisiana
Latitude
30.251149
Longitude
-92.0317819

FAQs

What type of property is this?
Apartment building - 12-unit building, high rental demand
Where is the apartment building located?
The property is located at 143 Martin Luther King Jr Dr Lafayette, LA.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: 0.84-acre site, totaling 36,590 square feet.; ;
How can I contact the broker?
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143 Martin Luther King Jr Dr
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