Six-Unit Apartment
For Sale
$1,700,000
1510 Kaliste Saloom Road, Lafayette, LA 70508
Lafayette, LA
Property Size8,088 SF
Lot Size1.70 Acres
Price / SF$210.19
Days on Market19
Property Features for 1510 Kaliste Saloom Road
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
8,088 SF
Lot size
1.70 Acres
Amenities
balcony
Listing Agency:
NextHome Cutting Edge Realty
(337) 484-1184
Listed By:
Mary Beth Walsh · License #4437694
(318) 237-0462
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 31 at 8:06PM
MLS# 2500004507
Copyright © 2026 NextHome, Inc. 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.
The complex comprises four buildings, including a six-unit building with two residential layouts. Each apartment measures 1,398 square feet. Four residences offer two bedrooms and 2.5 bathrooms, while the remaining two provide three bedrooms and 2.5 bathrooms. Every unit includes a balcony.
Manuel Builders completed the new construction. The 1.7-acre property is supported by an HOA that covers trash pickup, grounds keeping, and exterior insurance, providing shared oversight of several routine property services.
Manuel Builders completed the new construction. The 1.7-acre property is supported by an HOA that covers trash pickup, grounds keeping, and exterior insurance, providing shared oversight of several routine property services.
Key Highlights
- Four buildings in the complex, including a six‑unit building
- Each unit measures 1,398 square feet
- Four units have 2 bedrooms, 2.5 bathrooms, and a balcony
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
$68,568
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
4.03%
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%
$1,371,360
$1.4M
Cap Rate 7%
$979,543
$979.5K
Cap Rate 9%
$761,867
$761.9K
Market Conditions
NOI Build-Up for 8,088 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
$169.8K $21.00/SF
− Vacancy
−$45.2K −$5.59/SF
EGI
$124.7K $15.41/SF
− OpEx
−$56.1K −$6.94/SF
NOI
$68.6K $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%
$1,371,360
Cap Rate 7%
$979,543
Cap Rate 9%
$761,867
Alternative Uses
Best Use
Apartment 5plus
$979.5K
$857.1K – $1.14M
NOI $68,568 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,860 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,298
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
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 - Newly constructed multifamily complex with two floorplans, private balconies, and association-managed exterior services.
Where is this apartment building located?
The property is located at 1510 Kaliste Saloom Road Lafayette, LA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Four buildings in the complex, including a six‑unit building; Each unit measures 1,398 square feet; Four units have 2 bedrooms, 2.5 bathrooms, and a balcony
