Highlights
•128 total units •50 three-bedroom / two-bath units •50 two-bedroom / one-bath units •28 one-bedroom / one-bath units •Built in 1970 and renovated in 2025 •$1.4 million in recent capital improvements •±6.75-acre site •2025 NOI of $533,313 •Projected 2026 NOI of $820,864 •Interior upgrades include LVP flooring, granite countertops, stainless steel appliances, updated fixtures, modern paint scheme, ceiling fans, painted cabinetry, and low-flow toilets •Amenities include picnic area, laundry facility, and playground
Description
The Lux at Lafayette underwent a comprehensive $1.4 million renovation and successful lease-up in 2025, transforming the community into a modern, stabilized multifamily asset. Following completion of improvements, the property generated a 2025 NOI of $533,313, with management projecting a 2026 NOI of $820,864 based on the current rent roll and operating performance. Strong leasing momentum has been supported by significant economic growth in the area, including major projects such as First Solar’s $1.1 billion AI-powered solar manufacturing facility, the BioInnovation Accelerator, and expanding drone and advanced manufacturing hubs, collectively bringing thousands of new jobs to the market. Ideally located near premier shopping, dining, healthcare, and major employment centers—including River Marketplace, Acadiana Mall, Parc Lafayette, the University of Louisiana at Lafayette, Ochsner Lafayette General, Our Lady of Lourdes, and Lafayette Regional Airport—the property offers residents exceptional convenience and connectivity.
Listing Details
- Cap Rate
7.5%
- Space Type
multifamily
- Sub Category
apartments-building
- Date Listed
2/12/2026
- Investment Type
Value Add
- Parking Info
172 spaces
Property Specifics
- Property Name
Multifamily Acquisition Opportunity | The Lux of Lafayette
- No of Stories
2
- No of Units
128
- Year Built
1970
- Lot Size
6.75 Ac
- Year Renovated
2025
- APN
6002195
- Zoning
LDC