Well-Maintained 62-Unit Multifamily Portfolio

Investment Overview

815, 816, and 822 Martin Luther King Jr Dr offer a 62-unit multifamily portfolio across 20 buildings in Lafayette. The two properties are positioned directly across the street from one another. Landfair Complex (815) is 38 two-bedroom garden units averaging 873 SF. Beau Soleil (816, 822) is a larger-format product: fifteen 3BR/2BA at 1,303 SF, five 4BR/2BA at 1,453 SF, and four 2BR/1BA at 816 SF: a 1,017 SF portfolio average." Nine of 62 units are vacant and roughly a dozen more are on expired or month-to-month leases. A new operator can reprice or fill a third of the portfolio in year one without waiting out lease terms. Located ±2 minutes from I-49, the properties provide convenient access throughout Lafayette. Nearby amenities include the Martin Luther King Recreation Center, Parkway Plaza Shopping Center, and more. Beau Soleil sits on ±4.26 acres at ±5.63 units per acre, with a large open field inside its own parcel lines, leaving room for expansion that the current density does not use. Landfair is ±2.13 acres at ±17.8 units per acre.