507 Stevenson St is amulti-family property for lease in Lafayette, LA.
This is an opportunity to own a multi-family investment 2 blocks away from the second largest University in the state of Louisiana. University of Louisiana at Lafayette has an enrollment of 17,500 students and is growing every year. This property is one of the few multi-family buildings within 2 blocks of the University. All the work has been done for a buy and hold investor. All units have new roofs, paint, flooring, and fixtures to name a few. The properties are setup to be low maintenance for many years to come. Students are always looking for affordable housing close to campus. Most vacancies get filled within a week. The numbers break down like this: Gross Income of $62,700 - $15,000 expenses= $47,700 in net income. $47,700/$550,000= 8.7% Cap Rate. Solid investment overall between location, desirability, maintenance and ease of ownership. Don't let another great investment get away!
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