Listed by Stirling Properties Baton Rouge, Stirling
Unpriced
LILA PLACE
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 41,239
Units 60
NOI $304,341
Occupancy 92%
Tenancy Multi
Class C
Year Built 1961
Buildings 2
Acreage 1.660
Parking Spaces 86 spaces
Parking Per SqFt 2.09
Investment Type Stabilized
Ceiling Height 8
Multifamily | 60 Units
Marketing description
Lila Place presents a compelling value-add opportunity to acquire a well-positioned multifamily asset in one of Lafayette's most established residential corridors. Located along South College Road, the property benefits from convenient access to major employment centers, retail destinations, healthcare facilities, and the University of Louisiana at Lafayette, supporting consistent rental demand. With opportunities to enhance operations, improve property performance, and align rents more closely with competing assets in the market, investors have a clear path to increasing revenue and overall asset value. Lila Place offers the opportunity to capitalize on Lafayette's stable multifamily fundamentals while executing a strategic value-add investment plan.
Investment highlights
- Acquire a Stabilized, Cash-Flowing Asset with Rents Positioned Mid-Stack to Comps: Lila Place offers a new owner the opportunity to acquire a stabilized asset at 92% occupancy, generating durable day-one cash flow rather than an execution-dependent turnaround. In-place rents are positioned squarely in the middle of the competitive set, with the rent comparable survey supporting an achievable market rent of $848 per unit against a compset average of $913 — leaving clear, low-risk runway to grow rents toward the leaders as units turn, without a heavy renovation requirement. A new owner inherits stabilized occupancy and income immediately, with a straightforward path to continued organic rent growth.
- Strong Sub-Location within a Growing Lafayette MSA: The property sits in an established South Lafayette rental corridor, and benefits from an affluent immediate trade area with an average household income of $152,290 within a one-mile radius. At the macro level, the Louisiana Economic Forecast projects the Lafayette MSA to add 5,300 jobs (+2.8%) over 2026–2027 — driven by growth at four of the region's top six employers and pushing metro employment to an all-time high of approximately 192,400 jobs. These fundamentals support sustained population stability and rental demand, reinforcing the durability of in-place cash flow for long-term ownership.
- Below-Replacement-Cost Basis Backed by Recession-Resilient Unit Mix: Lila Place offers entry at low PPU vs comparables and well below the cost to develop comparable infill product in the submarket. The asset's efficient floorplans, averaging 687 square feet with a roughly even split of one- and two-bedroom homes, target the deepest and most affordable segment of renter demand, producing sticky occupancy and strong per-foot revenue across economic cycles. At market-tier pricing, the asset delivers a pro-forma 7.0%+ going-in cap rate with projected levered IRRs in the mid-to-high teens, providing an attractive risk-adjusted return profile for a stabilized, well-located asset with embedded upside.
Listing Contacts
Listed by Stirling Properties Baton Rouge, Stirling
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$304,341.00
$25,361.75/mo
Valuation Metrics
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Zoning
RS-1 ResidentialSingle FamilyResidential Single Family 1
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View all 161 uses Last updated Apr 24, 2026 For deeper zoning details, reports are available at Zoneomics
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