Three-Unit Short-Term Rental
For Sale
$715,000
103 S Southlawn Drive, Lafayette, LA 70503
Commercial Sale, Lafayette, LA
Property Size3,364 SF
Lot Size0.38 Acres
Price / SF$212.54
Days on Market313
Property Features for 103 S Southlawn Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RM1
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 4, Bathroom 5, Bathroom 3, Bathroom 2
Parking
8
Parking features
Off Street, Covered
Subdivision
Minglewood Park
Lot features
Corner
Directions
From Johnston towards Oil Center on S. College property is on right @ corner of Southlawn.
Standard status
Active
APN
6027497
Size
3,364 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Description
Lots 1-2-3-4-5 Minglewood Park Sub
Legal Description
Lots 1-2-3-4-5 Minglewood Park Sub
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas, Electric (Heating)
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
shared courtyard
Building Details
Floors in Building
1
Flooring type
Wood, Tile - Ceramic, Tile
Roof type
Composition
Listing Agency:
Atlas Realty of Acadiana
(337) 504-7414
Listed By:
Kurt Reaux · License #995704647
(337) 257-2455
Added: Dec 4, 2025
Changed: Oct 8
Last Checked: Oct 13 at 7:06AM
MLS# 2500006026
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.
At 103 S Southlawn Drive in Lafayette, this renovated short-term rental property contains three units totaling 3,364 square feet. The units share a courtyard, and the combined sleep capacity is 18 guests. Furnishings, décor, and appliances are in place; these items may be included through separate negotiation.
The property occupies 0.38 acres and is zoned RM1. Public water and sewer serve the site. Interior features include wood and tile flooring, central heating and air conditioning, and covered and off-street parking.
The property occupies 0.38 acres and is zoned RM1. Public water and sewer serve the site. Interior features include wood and tile flooring, central heating and air conditioning, and covered and off-street parking.
Key Highlights
- Three units totaling 3,364 square feet
- Combined sleeping capacity of 18 guests
- 0.38‑acre property with a shared courtyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,519
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,380
$570.4K
Cap Rate 7%
$407,414
$407.4K
Cap Rate 9%
$316,878
$316.9K
Market Conditions
NOI Build-Up for 3,364 SF
Gross rent
$70.6K $21.00/SF
− Vacancy
−$18.8K −$5.59/SF
EGI
$51.9K $15.41/SF
− OpEx
−$23.3K −$6.94/SF
NOI
$28.5K $8.48/SF
Area
Lafayette, LA
Vacancy
26.60%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,380
Cap Rate 7%
$407,414
Cap Rate 9%
$316,878
Alternative Uses
Best Use
Apartment 5plus
$407.4K
$356.5K – $475.3K
NOI $28,519 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$795.4K
$696.0K – $927.9K
NOI $55,676 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 70503, LA
27,497
Population
13,052
Households
2.1
Avg Household Size
38
Median Age
55%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
2,433
Density / Sq Mi
$94,360
Median Household Income
$54,170
Median Earnings
$1,087
Median Rent
$326,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Separate accommodations share a courtyard and provide sleeping capacity for up to 18 guests.
Where is this short term rental property located?
The property is located at 103 S Southlawn Drive Lafayette, LA.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Three units totaling 3,364 square feet; Combined sleeping capacity of 18 guests; 0.38‑acre property with a shared courtyard
