Tenant-Occupied Residential Income
519 Madison Street Lafayette, LA 70501
519 Madison Street, Lafayette, LA, 70501
$464,000
For Sale
$464,000
MULTI_FAMILY - Lafayette, LA
Property Size2,627 SF
Lot Size0.32 Acres
Price / SF$176.63
Days on Market140
Property Features for 519 Madison Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Rooms
- Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 5, Bedroom 3, Bathroom 4, Bedroom 2, Bedroom 4
- Parking
- 1
- Parking features
- Assigned, Parking Lot, On Street
- Interior features
- High Ceilings, 9+ Ft Ceiling, Electric Dryer Connection, Electric Stove Connection, Electric Washer Connection, Gas Dryer Connection, Gas Stove Connection
- Exterior features
- Lighting, Outside Light
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 6057167
- Size
- 2,627 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Description
- LOT 227 MILLS ADD (100X140)
Utilities
- Heating system
- Electric (Heating), Central, Natural Gas
- Cooling system
- Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Floors in Building
- 1
- Number of units
- 3
- Building materials
- Wood Siding
- Roof type
- Composition
Listing Agency
Compass
(337) 233-9700
2000 Kaliste Saloom, Ste. 101, LA
Listed by
Setareh A Mirian · License #99564700
(337) 344-0067
Added: Feb 27 Checked: Jul 17 at 6:06 pm
MLS# 2600001694
Listing URL
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 investor package includes 519 Madison Street, a well-maintained tri-plex with individually metered units, separate entrances, fenced yards, and on-site parking. Each unit has its own access and utilities, supporting straightforward income management.
Also included is 309 Voorhies, a freestanding single-family home remodeled in 2024. The property offers live/work or commercial potential and is located directly across the street from a coffee shop.
Both properties are 100% tenant occupied and are being sold together as a two-property package in Lafayette, Louisiana.
Also included is 309 Voorhies, a freestanding single-family home remodeled in 2024. The property offers live/work or commercial potential and is located directly across the street from a coffee shop.
Both properties are 100% tenant occupied and are being sold together as a two-property package in Lafayette, Louisiana.
Key Highlights
- Investor package: 519 Madison + 309 Voorhies sold together for $464,000
- Both properties are 100% tenant occupied
- 519 Madison is a well‑maintained tri‑plex with individually metered units and separate entrances; includes fenced yards and on‑site parking
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.0k | $17.88 |
| − Vacancy | −$11.9k | −$4.52 |
| EGI | $35.1k | $13.36 |
| − OpEx | −$10.5k | −$4.01 |
| NOI | $24.6k | $9.35 |
2,627 SF · lease $17.88/SF/yr · vacancy 25.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.1K – $409.5K
NOI $24,571 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$318.2K
$278.4K – $371.2K
NOI $22,271 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$621.1K
$543.5K – $724.6K
NOI $43,478 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Two Lafayette properties sold together: a tri-plex and a remodeled single-family home, both 100% tenant occupied.
Where is this triplex located?
The property is located at 519 Madison Street Lafayette, LA.
What is the asking price?
The asking price for this property is $464,000.
What are key features of this property?
This property features: Investor package: 519 Madison + 309 Voorhies sold together for $464,000; Both properties are 100% tenant occupied; 519 Madison is a well‑maintained tri‑plex with individually metered units and separate entrances; includes fenced yards and on‑site parking
