8-Unit Apartment
For Sale
$399,000
Pending
303 Cougar Ridge, Lafayette, LA 70508
Established tenancy and optional management support complement this multifamily rental property.
Property Size2,400 SF
Days on Market60
Property Features for 303 Cougar Ridge
General Information
Standard status
Pending
Size
2,400 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$60,900
Multifamily Units
8
Listing Agency:
Keaty Real Estate Team
Listed By:
The Gleason Group · License #2013009293
(337) 262-7873
Source:
Gleasonla
Added: Aug 9
Changed: Oct 4
Last Checked: Oct 5 at 6:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keaty Real Estate Team
Investment Insights
Based on property information with market context.
This multifamily property is configured as an eight-unit apartment building with established long-term tenants. Optional management services are available for an owner who wants operational support, while self-management remains an alternative.
Located at 303 Cougar Rdg in Lafayette, Louisiana, the property is offered as an individual acquisition. It is also part of a larger portfolio of rental properties available for separate or package purchases.
Located at 303 Cougar Rdg in Lafayette, Louisiana, the property is offered as an individual acquisition. It is also part of a larger portfolio of rental properties available for separate or package purchases.
Key Highlights
- Eight‑unit apartment configuration
- Long‑term tenants in place
- Optional management services available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,346
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,920
$406.9K
Cap Rate 7%
$290,657
$290.7K
Cap Rate 9%
$226,067
$226.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$50.4K $21.00/SF
− Vacancy
−$13.4K −$5.59/SF
EGI
$37.0K $15.41/SF
− OpEx
−$16.6K −$6.94/SF
NOI
$20.3K $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 Rate 5%
$406,920
Cap Rate 7%
$290,657
Cap Rate 9%
$226,067
Alternative Uses
Best Use
Apartment 5plus
$290.7K
$254.3K – $339.1K
NOI $20,346 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$567.4K
$496.5K – $662.0K
NOI $39,721 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 70508, LA
40,343
Population
18,677
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
94%
High-School Grad
24.3 sq mi
ZIP Area
1,660
Density / Sq Mi
$88,017
Median Household Income
$51,614
Median Earnings
$1,244
Median Rent
$299,200
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Established tenancy and optional management support complement this multifamily rental property.
Where is this apartment building located?
The property is located at 303 Cougar Ridge Lafayette, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Eight‑unit apartment configuration; Long‑term tenants in place; Optional management services available
