Multi-Unit Residential Rental
For Sale
$825,000
426 Bellevue Street, Lafayette, LA 70506
MULTI_FAMILY - Lafayette, LA
Property Size6,068 SF
Lot Size1.07 Acres
Price / SF$135.96
Days on Market85
Property Features for 426 Bellevue Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
13
Full bathrooms
7
Rooms
Bedroom 4, Bathroom 3, Bedroom 7, Bedroom 12, Bathroom 2, Bedroom 13, Bedroom 5, Bedroom 3, Bathroom 4, Bathroom 5, Bedroom 2, Bedroom 8, Bedroom 11, Bedroom 9, Bathroom 7, Bedroom 6, Bedroom 1, Bathroom 1, Bedroom 10, Bathroom 6
Parking
11
Parking features
Parking Lot, Carport, Covered
Interior features
Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection, Gas Stove Connection
Appliances
Dishwasher, Freezer, Refrigerator, Gas Range
Elementary school
Lafayette
Middle school
L J Alleman
High school
Lafayette
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
Call agent.
Subdivision
G3
Standard status
Active
APN
6055726
Size
6,068 SF
Lot size
1.07 Acres
Taxes and HOA fees
Tax Description
Lots 21 & 22 BLK 12 Souvenir Heights
Legal Description
Lots 21 & 22 BLK 12 Souvenir Heights
Utilities
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Floors in Building
1
Number of units
7
Building materials
Vinyl Siding, Wood Siding
Roof type
Metal
Listing Agency:
EXP Realty, LLC
(337) 522-7554
Listed By:
Nick Hundley · License #995686646
(337) 789-6539
Added: Jun 9
Changed: Jul 25
Last Checked: Sep 1 at 9:06AM
MLS# 2600005154
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 for-sale multi-property investment package consists of seven income-producing rental units, generating a total monthly rent of $8,270. All units are currently occupied, supporting immediate cash flow from day one. The package includes 103 Edwis St (3BR/1BA), 501 Macon St (3BR/1BA), 107 Philhurst (3BR/2BA), and 426 Bellevue St, which features a 3BR/2BA main house plus a 1BR/1BA apartment. Additional units are located at 505 Cedar Crest (2BR/2BA) and 507 Cedar Crest (1BR/1BA).
The properties are being sold as-is and must be purchased as a package; the seller will not separate them. Within the package, the individual locations are described as conveniently located within minutes of one another.
The seller reports the properties have been well managed and that the rent roll is strong, with all units currently occupied.
The properties are being sold as-is and must be purchased as a package; the seller will not separate them. Within the package, the individual locations are described as conveniently located within minutes of one another.
The seller reports the properties have been well managed and that the rent roll is strong, with all units currently occupied.
Key Highlights
- Multi‑property investment package with 7 income‑producing rental units generating $8,270 in total monthly rent.
- All 7 properties are currently occupied, providing immediate cash flow from day one.
- Unit mix includes: 103 Edwis St (3BR/1BA), 501 Macon St (3BR/1BA), 107 Philhurst (3BR/2BA), and 426 Bellevue St (3BR/2BA main + 1BR/1BA apartment).
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
$51,443
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
6.24%
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%
$1,028,860
$1.0M
Cap Rate 7%
$734,900
$734.9K
Cap Rate 9%
$571,589
$571.6K
Market Conditions
NOI Build-Up for 6,068 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
$127.4K $21.00/SF
− Vacancy
−$33.9K −$5.59/SF
EGI
$93.5K $15.41/SF
− OpEx
−$42.1K −$6.94/SF
NOI
$51.4K $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%
$1,028,860
Cap Rate 7%
$734,900
Cap Rate 9%
$571,589
Alternative Uses
Best Use
Apartment 5plus
$734.9K
$643.0K – $857.4K
NOI $51,443 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.26M – $1.67M
NOI $100,428 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,210
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Seven occupied income-producing rental units sold as an as-is package with total monthly rent of $8,270.
Where is this apartment building located?
The property is located at 426 Bellevue Street Lafayette, LA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Multi‑property investment package with 7 income‑producing rental units generating $8,270 in total monthly rent.; All 7 properties are currently occupied, providing immediate cash flow from day one.; Unit mix includes: 103 Edwis St (3BR/1BA), 501 Macon St (3BR/1BA), 107 Philhurst (3BR/2BA), and 426 Bellevue St (3BR/2BA main + 1BR/1BA apartment).
