Short-Term Rental Property with
For Sale
$715,000
103 S Southlawn Drive, Lafayette, LA 70503
Multifamily, Lafayette, LA
Property Size3,364 SF
Price / SF$212.54
Days on Market331
Property Features for 103 S Southlawn Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 6, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 5, Bedroom 4, Bedroom 7, Bedroom 2
Parking
8
Parking features
Covered, Carport
Patio and Porch features
Porch, Patio
Interior features
High Ceilings, Beamed Ceilings
Exterior features
Lighting
Fireplace
1
Appliances
Dryer, Disposal, Dishwasher, Electric Range, Electric Stove Connection, Dryer, Disposal, Dishwasher, Electric Range, Electric Stove Connection
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
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas, Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
courtyard
Building Details
Number of units
3
Flooring type
Laminate, Wood
Building materials
Brick, Frame, Wood Siding
Roof type
Composition
Additional Structures
Guest House
Listing Agency:
Atlas Realty of Acadiana
(337) 504-7414
Listed By:
Kurt Reaux · License #995704647
(337) 257-2455
Added: Dec 4, 2025
Changed: Oct 28
Last Checked: Oct 31 at 5:06AM
MLS# 2500006027
Copyright © 2026 ROAM MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Renovated and configured as three separate units, this 3,364-square-foot short-term rental property includes seven bedrooms and five bathrooms, with sleeping capacity for 18 guests. The units share a courtyard and feature furnishings, decor, and appliances. A package of these items may be negotiated separately from the purchase price. Interior details include high and beamed ceilings, laminate and wood flooring, and a fireplace. Covered carport parking, a porch, and a patio are also present.
Public water and sewer serve the property. Additional features include central heating and air conditioning, ceiling fans, and cable availability. The building is constructed with brick, frame, and wood siding, and has a composition roof.
Public water and sewer serve the property. Additional features include central heating and air conditioning, ceiling fans, and cable availability. The building is constructed with brick, frame, and wood siding, and has a composition roof.
Key Highlights
- Three separate units with combined sleeping capacity for 18 guests
- 3,364 square feet with seven bedrooms and five bathrooms
- Units share a courtyard
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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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Three separate rental units share a courtyard, with furnishings and appliances available as a separately negotiated package.
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 separate units with combined sleeping capacity for 18 guests; 3,364 square feet with seven bedrooms and five bathrooms; Units share a courtyard
