About 510 Madison Street
Discover exceptional value-add investment potential in downtown Lafayette with this spacious 4 Plex property offering: Two 2 bedroom/1 bathroom units & Two 1 bedroom/1 bathroom units across 2,890 square feet. Currently generating $30,360 in annual rental income--well below market rates--this property presents an opportunity to increase returns to approximately $35,580 yearly with appropriate adjustments.Nestled in the vibrant heart of Lafayette, residents enjoy the perfect blend of urban convenience and cultural richness. The property sits within walking distance of beloved community treasures including Parc Sans Souci, Parc International, and the Lafayette Public Library Main Branch.Culture enthusiasts will appreciate proximity to the renowned Acadiana Center for the Arts and the internationally celebrated Festival International, which transforms downtown into a global cultural showcase each spring. Food lovers will delight in the array of nearby restaurants offering authentic Cajun cuisine and diverse dining options.This well-positioned multi-family home offers the perfect combination of steady income potential and quality living space in one of Lafayette's most desirable neighborhoods. Whether you're looking to expand your investment portfolio or seeking a property with reliable returns, this downtown gem delivers both character and practical value in Louisiana's cultural capital.Each unit has been rewired (2007) and the plumbing has been upgraded over the years. Each unit has washer and dryer connections.
Features of 510 Madison Street
| MLS® # | 2500000133 |
|---|---|
| Price | $295,000 |
| Bedrooms | 5 |
| Bathrooms | 3.00 |
| Full Baths | 3 |
| Acres | 0.21 |
| Type | Multi-Family |
| Sub-Type | Quadruplex |
| Status | Active |
Community Information
| Address | 510 Madison Street |
|---|---|
| Area | G3 |
| Subdivision | Mills Addition |
| City | Lafayette |
| County | Lafayette |
| State | LA |
| Zip Code | 70501 |
Amenities
| Parking Spaces | 8 |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Appliances | Refrigerator |
|---|---|
| Heating | Central, Heat Unit(s) |
| Cooling | Window Unit(s), AC Unit(s) |
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Construction | Frame, Wood Siding |
|---|---|
| Foundation | Pillar/Post/Pier |
School Information
| Elementary | Truman |
|---|---|
| Middle | Acadian |
| High | Lafayette |
Additional Information
| RE / Bank Owned | No |
|---|---|
| Listing Provided By | HUNCO Real Estate |