510 Madison Street, Lafayette, LA 70501
Local realty services provided by:Better Homes and Gardens Real Estate Rhodes Realty
510 Madison Street,Lafayette, LA 70501
$295,000
- 5 Beds
- 3 Baths
- 2,890 sq. ft.
- Multi-family
- Active
Listed by:william g raines
Office:hunco real estate
MLS#:2500000133
Source:LA_RAAMLS
Price summary
- Price:$295,000
- Price per sq. ft.:$102.08
About this home
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.
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Home facts
- Listing Id #:2500000133
- Added:63 day(s) ago
- Updated:August 02, 2025 at 03:05 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:3
- Full bathrooms:3
- Living area:2,890 sq. ft.
Heating and cooling
- Cooling:AC Unit(s), Window Unit(s)
- Heating:Central Heat, Heat Unit(s)
Structure and exterior
- Building area:2,890 sq. ft.
- Lot area:0.21 Acres
Schools
- High school:Lafayette
- Middle school:Acadian
- Elementary school:Truman
Utilities
- Sewer:Public Sewer
Finances and disclosures
- Price:$295,000
- Price per sq. ft.:$102.08
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