Three-Unit Triplex with
For Sale
$715,000
103 S Southlawn Drive, Lafayette, LA 70503
Residential Income, Lafayette, LA
Property Size3,364 SF
Price / SF$212.54
Days on Market313
Property Features for 103 S Southlawn Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Full bathrooms
5
Rooms
Bedroom 3, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 4, Bedroom 7, Bathroom 4, Bedroom 1, Bedroom 5, Bedroom 2
Parking
8
Parking features
Carport, Covered
Patio and Porch features
Patio, Porch
Interior features
High Ceilings, Beamed Ceilings, 9+ Ft Ceiling, Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection
Exterior features
Lighting, Outside Light, Porch, Patio
Appliances
Dishwasher, Disposal, Dryer, Electric Range, Dishwasher, Disposal, Dryer, Electric Range
Subdivision
Minglewood Park
Lot features
Corner Lot
Elementary school
Woodvale
Middle school
L J Alleman
High school
Lafayette
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
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
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
large courtyard
Building Details
Number of units
3
Flooring type
Laminate, Wood
Building materials
Brick, Wood Siding
Roof type
Composition
Additional Structures
Residence
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 5:06AM
MLS# 2500006027
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 renovated triplex contains three separate units within 3,364 square feet. Together, the residences accommodate up to 18 guests and share a courtyard. Interior finishes include laminate and wood flooring, high ceilings, and beamed ceilings. Each unit has appliances, and furnishings and décor may be included through separate negotiation.
Exterior features include a patio, porch, and covered carport parking. The building has brick and wood siding, with public water and sewer service.
Exterior features include a patio, porch, and covered carport parking. The building has brick and wood siding, with public water and sewer service.
Key Highlights
- Three separate units with shared courtyard
- 3,364 square feet of building area
- Combined guest capacity of 18
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,464
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,280
$629.3K
Cap Rate 7%
$449,486
$449.5K
Cap Rate 9%
$349,600
$349.6K
Market Conditions
NOI Build-Up for 3,364 SF
Gross rent
$60.1K $17.88/SF
− Vacancy
−$15.2K −$4.52/SF
EGI
$44.9K $13.36/SF
− OpEx
−$13.5K −$4.01/SF
NOI
$31.5K $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 Rate 5%
$629,280
Cap Rate 7%
$449,486
Cap Rate 9%
$349,600
Alternative Uses
Best Use
Multifamily LT 5
$449.5K
$393.3K – $524.4K
NOI $31,464 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$407.4K
$356.5K – $475.3K
NOI $28,519 @ 7.0% cap · market cap 3.99%
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
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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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences share an outdoor courtyard, with furnishings and appliances available by separate negotiation.
Where is this triplex 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 separate units with shared courtyard; 3,364 square feet of building area; Combined guest capacity of 18
