815, 816, 822 Martin Luther King Junior Dr
Property Description
815, 816, and 822 Martin Luther King Jr Dr offer a 62-unit multifamily portfolio across 20 buildings in Lafayette. The two properties are positioned directly across the street from one another. Landfair Complex (815) is 38 two-bedroom garden units averaging 873 SF. Beau Soleil (816, 822) is a larger-format product: fifteen 3BR/2BA at 1,303 SF, five 4BR/2BA at 1,453 SF, and four 2BR/1BA at 816 SF: a 1,017 SF portfolio average." Nine of 62 units are vacant and roughly a dozen more are on expired or month-to-month leases. A new operator can reprice or fill a third of the portfolio in year one without waiting out lease terms. Located ±2 minutes from I-49, the properties provide convenient access throughout Lafayette. Nearby amenities include the Martin Luther King Recreation Center, Parkway Plaza Shopping Center, and more.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,800,000 |
| No. of Units: | 62 |
| Opportunity Zone: | No |
| Price per unit: | $61,290 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
3309 General Taylor St
New Orleans, Louisiana
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout