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$ 295,000
Est. payment /mo
New
510 Madison ST Lafayette, LA 70501
5 Beds
3 Baths
9,239 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Mills Addition
MLS Listing ID 2500000133
Bedrooms 5
Full Baths 3
Lot Size 9,239 Sqft
Property Description
Discover exceptional value-add investment potential in downtown Lafayette with this spacious 4 Plex property offering: Two 2 bedroom/1 bathroom units & Two 1 bedroom/1 bathroom units across 2,890 square feet. Currently generating $30,360 in annual rental income--well below market rates--this property presents an opportunity to increase returns to approximately $35,580 yearly with appropriate adjustments.Nestled in the vibrant heart of Lafayette, residents enjoy the perfect blend of urban convenience and cultural richness. The property sits within walking distance of beloved community treasures including Parc Sans Souci, Parc International, and the Lafayette Public Library Main Branch.Culture enthusiasts will appreciate proximity to the renowned Acadiana Center for the Arts and the internationally celebrated Festival International, which transforms downtown into a global cultural showcase each spring. Food lovers will delight in the array of nearby restaurants offering authentic Cajun cuisine and diverse dining options.This well-positioned multi-family home offers the perfect combination of steady income potential and quality living space in one of Lafayette's most desirable neighborhoods. Whether you're looking to expand your investment portfolio or seeking a property with reliable returns, this downtown gem delivers both character and practical value in Louisiana's cultural capital.Each unit has been rewired (2007) and the plumbing has been upgraded over the years. Each unit has washer and dryer connections.
Location
State LA
County Lafayette
Direction West Congress St. to Madison St. (across from Public Library)
Interior
Heating Central, Heat Unit(s)
Cooling Window Unit(s), AC Unit(s)
Flooring Wood
Appliance Refrigerator
Building
Story 2
Foundation Pillar/Post/Pier
Sewer Public Sewer
Schools
Elementary Schools Truman
Middle Schools Acadian
High Schools Lafayette
Listed by HUNCO Real Estate