Furnished Triplex Near UL
For Sale
$340,000
Pending
520 E University Avenue, Lafayette, LA 70503
Residential Income, Lafayette, LA
Property Size2,064 SF
Lot Size0.24 Acres
Days on Market54
Property Features for 520 E University Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
MN-1
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2
Parking
2
Parking features
Covered, Carport, On Street
Window features
Window Treatments
Patio and Porch features
Porch, Patio
Interior features
Beamed Ceilings, Window Treatments, Beamed Ceilings
Exterior features
Porch, Patio
Fencing
Chain Link, Privacy
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Gas Cooktop
Subdivision
College Pk Add
Lot features
Corner Lot
Elementary school
Woodvale
Middle school
L J Alleman
High school
Lafayette
Elementary school district
Lafayette Parish
Middle school district
Lafayette Parish
High school district
Lafayette Parish
Directions
North on Johnston Street (going north), Take a right on E. University; property will be on the right at the corner of Roosevelt and E University Ave. Turn onto Roosevelt and immediately pull into side carport area.
Standard status
Pending
APN
6071344
Size
2,064 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
LOTS 9 & 10 BLK 1 COLLEGE PARK ADDITION (50X140) PT LOT 11 BLK 1 COLLEGE PARK ADDITION (10,369 SQ FT)
Legal Description
LOTS 9 & 10 BLK 1 COLLEGE PARK ADDITION (50X140) PT LOT 11 BLK 1 COLLEGE PARK ADDITION (10,369 SQ FT)
Utilities
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Building Details
Floors in Building
1
Number of units
3
Flooring type
Brick, Wood, Carpet
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
EXP Realty, LLC
(337) 522-7554
Listed By:
Quincie Privat · License #0995685786
(337) 534-3642
Added: Jul 16
Changed: Sep 1
Last Checked: Sep 7 at 10:06PM
MLS# 2600006558
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 2,064-square-foot triplex contains three separate units and is currently furnished for short-term rental use. Interior details include beamed ceilings, wood and brick flooring, window treatments, and central heating and cooling. The property also includes a dishwasher, dryer, microwave, refrigerator, and gas cooktop.
Outdoor features include a porch, patio, chain-link and privacy fencing, a composition roof, and covered parking with carport and on-street options. The 0.24-acre property is located at 520 E University Avenue in Lafayette, near UL Lafayette, downtown, restaurants, shopping, and local attractions.
Outdoor features include a porch, patio, chain-link and privacy fencing, a composition roof, and covered parking with carport and on-street options. The 0.24-acre property is located at 520 E University Avenue in Lafayette, near UL Lafayette, downtown, restaurants, shopping, and local attractions.
Key Highlights
- Triplex with three separate units
- 2,064 square feet on a 0.24‑acre lot
- Currently furnished and used as a short‑term rental
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
$19,305
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
5.68%
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%
$386,100
$386.1K
Cap Rate 7%
$275,786
$275.8K
Cap Rate 9%
$214,500
$214.5K
Market Conditions
NOI Build-Up for 2,064 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
$36.9K $17.88/SF
− Vacancy
−$9.3K −$4.52/SF
EGI
$27.6K $13.36/SF
− OpEx
−$8.3K −$4.01/SF
NOI
$19.3K $9.35/SF
Area
Lafayette, LA
Vacancy
25.27%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
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%
$386,100
Cap Rate 7%
$275,786
Cap Rate 9%
$214,500
Alternative Uses
Best Use
Multifamily LT 5
$275.8K
$241.3K – $321.8K
NOI $19,305 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$250.0K
$218.7K – $291.6K
NOI $17,498 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$488.0K
$427.0K – $569.3K
NOI $34,160 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,675
Businesses Nearby
Explore this area
Business Placement
Demographics for 70503, LA
27,497
Population
13,052
Households
2.1
Avg Household Size
38
Median Age
55%
College-Educated
96%
High-School Grad
11.3 sq mi
ZIP Area
2,433
Density / Sq Mi
$94,360
Median Household Income
$54,170
Median Earnings
$1,087
Median Rent
$326,800
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 - Three separate units with short-term rental use, furnishings, central climate control, and covered parking.
Where is this triplex located?
The property is located at 520 E University Avenue Lafayette, LA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Triplex with three separate units; 2,064 square feet on a 0.24‑acre lot; Currently furnished and used as a short‑term rental
