Fully Occupied
For Sale
$300,000
Pending
104 N Long Street, Lafayette, LA 70506
Residential Income, Lafayette, LA
Property Size2,979 SF
Lot Size0.36 Acres
Days on Market62
Property Features for 104 N Long Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 6, Bathroom 2, Bedroom 3
Parking
6
Parking features
Parking Lot
Interior features
Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection
Appliances
Microwave, Refrigerator, Electric Range
Lot features
Level
Elementary school
Westside
Middle school
Scott
High school
Acadiana
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
From Congress Street and Bertrand, head north. Cross Eraste Landry, turn R onto N. Long. Triplex will be on the L.
Subdivision
G3
Standard status
Pending
APN
6032438
Size
2,979 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
DIST:04 CITY/MUNI/TWP:CITY OF LAFAYETTE SEC/TWN/RNG/MER:SEC 27 TWN 09S RNG 04E TR A SEC 27 T9S R4E (0.3591 AC)(95FT FRONT) (A/K/A LOTS 178-179-180-181)
Legal Description
DIST:04 CITY/MUNI/TWP:CITY OF LAFAYETTE SEC/TWN/RNG/MER:SEC 27 TWN 09S RNG 04E TR A SEC 27 T9S R4E (0.3591 AC)(95FT FRONT) (A/K/A LOTS 178-179-180-181)
Utilities
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Floors in Building
2
Number of units
3
Flooring type
Carpet
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Keller Williams Realty Acadiana
(337) 735-9300
Listed By:
Walter R Campbell · License #51344
(337) 251-6500
Added: Jun 29
Changed: Aug 25
Last Checked: Aug 29 at 1:06AM
MLS# 2600005931
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 fully occupied triplex contains 2,979 square feet on a 0.36-acre lot, with six bedrooms and three bathrooms across the property. Vinyl siding, a composition roof, carpeted flooring, central heating, central air, and ceiling fans are included. The property also has electric connections for the range, washer, and dryer, along with a microwave, refrigerator, and electric range.
A parking lot provides on-site parking, while public water serves the property. The Lafayette location offers access to shopping, schools, and medical facilities, and the property is situated at 104 N Long Street, Lafayette, LA 70506.
A parking lot provides on-site parking, while public water serves the property. The Lafayette location offers access to shopping, schools, and medical facilities, and the property is situated at 104 N Long Street, Lafayette, LA 70506.
Key Highlights
- Fully occupied triplex at 104 N Long Street, Lafayette, LA 70506
- 2,979 square feet on a 0.36‑acre lot
- Six bedrooms and three bathrooms
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
$25,255
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
8.42%
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%
$505,100
$505.1K
Cap Rate 7%
$360,786
$360.8K
Cap Rate 9%
$280,611
$280.6K
Market Conditions
NOI Build-Up for 2,979 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
$62.6K $21.00/SF
− Vacancy
−$16.6K −$5.59/SF
EGI
$45.9K $15.41/SF
− OpEx
−$20.7K −$6.94/SF
NOI
$25.3K $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 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%
$505,100
Cap Rate 7%
$360,786
Cap Rate 9%
$280,611
Alternative Uses
Best Use
Multifamily LT 5
$398.0K
$348.3K – $464.4K
NOI $27,863 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$360.8K
$315.7K – $420.9K
NOI $25,255 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$704.3K
$616.3K – $821.7K
NOI $49,304 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
712
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?
Triplex - Residential property with central climate control, electric utility hookups, appliances, and on-site parking.
Where is this triplex located?
The property is located at 104 N Long Street Lafayette, LA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Fully occupied triplex at 104 N Long Street, Lafayette, LA 70506; 2,979 square feet on a 0.36‑acre lot; Six bedrooms and three bathrooms
