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 Market330
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 2, Bathroom 1, Bathroom 3, Bathroom 4, Bathroom 5
Parking
8
Parking features
Covered
Subdivision
Minglewood Park
Lot features
Corner Lot
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
Tax Annual Amount
2013
Legal Description
Lots 1-2-3-4-5 Minglewood Park Sub
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating), Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
courtyard
Building Details
Floors in Building
1
Flooring type
Tile - Ceramic, Wood, Tile
Building materials
Frame
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 29
Last Checked: Oct 30 at 11:06AM
MLS# 2500006026
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.
At 103 S Southlawn Drive in Lafayette, this renovated property comprises three separate units with a combined area of 3,364 square feet. The units share a courtyard and have a total sleeping capacity of 18 guests. RM1 zoning is listed for the property, which occupies 0.38 acres.
Furnishings, décor, and appliances are in the units. The seller is willing to include these items with the units as a package, subject to negotiation separately from the purchase price.
Furnishings, décor, and appliances are in the units. The seller is willing to include these items with the units as a package, subject to negotiation separately from the purchase price.
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
$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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Renovated guest units share a courtyard; furnishings and appliances may be available through separate negotiation.
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
