Lafayette Fourplex in Saint
For Sale
$340,000
500 Adrienne Street, Lafayette, LA 70506
MULTI_FAMILY - Lafayette, LA
Property Size3,000 SF
Lot Size0.23 Acres
Price / SF$113.33
Days on Market135
Property Features for 500 Adrienne Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 5, Bathroom 3
Parking
5
Patio and Porch features
Patio
Interior features
Electric Dryer Connection, Electric Washer Connection
Exterior features
Lighting, Outside Light, Patio
Fencing
Privacy
Appliances
Refrigerator, Electric Cooktop
Subdivision
Oaklawn
Lot features
Landscaped
Elementary school
Montgomery
Middle school
Lafayette
High school
Lafayette
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
take a right onto W Congress, left onto W St Mary Blvd, right on Jeanne St, then a left onto Adrienne, white house will come up on the right
Standard status
Active
APN
6070026
Size
3,000 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
LOTS 11-12-13-BLK 17-OAKLAWN SUB (75X131.5)
Legal Description
LOTS 11-12-13-BLK 17-OAKLAWN SUB (75X131.5)
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty Acadiana
(337) 735-9300
Listed By:
J.D. Pierce · License #71851
(337) 316-4600
Added: Apr 17
Changed: Jul 25
Last Checked: Aug 29 at 3:06AM
MLS# 2600003299
Copyright © 2026 Realtor Association of Acadiana. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-family property is a fully tenant-occupied fourplex located in the Saint Streets area of Lafayette, Louisiana. The property includes three 1-bedroom, 1-bathroom units and one updated 2-bedroom, 2-bathroom unit. All four units are currently leased. The property is situated on a 0.23-acre lot. The building has a size of 3,000 square feet.
Key Highlights
- Fourplex with 3 one bed/one bath units and 1 updated two bed/two bath unit
- All four units are currently leased (fully tenant‑occupied)
- Central heating and central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,060
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$561,200
$561.2K
Cap Rate 7%
$400,857
$400.9K
Cap Rate 9%
$311,778
$311.8K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$53.6K $17.88/SF
− Vacancy
−$13.6K −$4.52/SF
EGI
$40.1K $13.36/SF
− OpEx
−$12.0K −$4.01/SF
NOI
$28.1K $9.35/SF
Area
Lafayette, LA
Vacancy
25.27%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$561,200
Cap Rate 7%
$400,857
Cap Rate 9%
$311,778
Alternative Uses
Best Use
Multifamily LT 5
$400.9K
$350.8K – $467.7K
NOI $28,060 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.9K
NOI $25,433 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$709.3K
$620.6K – $827.5K
NOI $49,651 @ 7.0% cap · market cap 14.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
Explore this area
Business Placement
Demographics for 70506, LA
39,801
Population
20,296
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
20.8 sq mi
ZIP Area
1,914
Density / Sq Mi
$55,553
Median Household Income
$38,764
Median Earnings
$1,024
Median Rent
$215,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Tenant-occupied fourplex in Lafayette's desirable Saint Streets neighborhood.
Where is this quadplex located?
The property is located at 500 Adrienne Street Lafayette, LA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Fourplex with 3 one bed/one bath units and 1 updated two bed/two bath unit; All four units are currently leased (fully tenant‑occupied); Central heating and central air conditioning
