Listed by Elifin Realty Lafayette
$420,000
406 & 408 Voorhies St
Details
APN 6063904
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,300
Units 6
Cap Rate 7.32%
NOI $30,743
Occupancy 100%
Tenancy Single
Pro-Forma Cap Rate 8.62%
Pro-Forma NOI $36,191
Year Renovated 2023
Acreage 0.170
Zoning MN-1 Mixed Use Neighborhood 1
Investment Type Stabilized
Multifamily | 6 Units | $70,000/unit
Marketing description
Now for sale, 406 and 408 Voorhies St is a 6-unit multifamily property located in the heart of downtown Lafayette, near the UL campus. Currently, all 6 of the units are occupied, providing immediate rental income as well as potential to increase the other rental rates. The roof was replaced in 2023, and three of the six units were also remodeled that same year, creating a well-maintained investment opportunity. Residents enjoy proximity to a variety of amenities, including Steven's Fine Food & Seafood Market, Coffeeweed Cottage, Brown Skillet Downtown, the Lafayette Public Library, the Lafayette Science Museum, and the Children's Museum of Acadiana.
Investment highlights
- 100% Occupied – Potential for increased rental rates in future
- 3/6 units remodeled in 2023, and roof replaced in the same year
- Located in prime downtown near a variety of amenities: the Lafayette Public Library, the Lafayette Science Museum, and the Children’s Museum of Acadiana
Listing Contacts
Listed by Elifin Realty Lafayette
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$30,743.01
$2,561.92/mo
Valuation Metrics
0
DSCR
7.32%
Cap Rate
7.32%
ROI
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