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Mills Multifamily Home for Sale

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    $295,000

    • 5 Beds
    • 3 Baths
    • 2,890 Sq Ft

    510 Madison St, Lafayette, LA 70501

    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

    William Raines, CCIM HUNCO Real Estate

    510 Madison St, Lafayette, LA 70501

Why Live in Mills

Mills Addition in Lafayette, Louisiana, is a historic neighborhood known for its vintage charm and community feel. Although not officially recognized on the National Register of Historic Places, Mills was one of the first platted neighborhoods in the city. The area features homes from the 1920s to the late 1950s, including turn-of-the-century cottages, Craftsman houses, and Acadian-style residences, many with large porches ideal for socializing. The neighborhood is adjacent to downtown, making it easy to walk to various restaurants, boutiques, and local features such as antique shops and a skatepark in Fightingville. For those needing to travel further, Highway 90 provides convenient access to Baton Rouge and New Orleans. Mills is home to some of Lafayette's top-rated schools, including S.J. Montgomery Elementary, Paul Breaux Middle, and Lafayette High School, which offer diverse programs and advanced coursework. Local amenities include art galleries, vape shops, and the Downtown Convention Center, which hosts large community events. Revived Designs Antiques Store and Fine Art Restoration offers a unique shopping experience with vintage glassware, antique furniture, and art restoration services. Food enthusiasts will appreciate Evangeline Maid Bakery, a local staple since 1926, known for its hand-twisted Old Fashioned Loaves and other baked goods. The neighborhood's combination of historic homes, community amenities, and convenient location make it a distinctive part of Lafayette.

Home Trends in Mills, LA

Housing Trends

Median Sale Price
$139,900
Median Single Family Sale Price
$154,950
Average Price Per Sq Ft
$114
Number of Homes for Sale
3
Last 12 months Home Sales
5
Months of Supply
7.20
Median List Price
$164,500
Median Change From 1st List Price
7%
Median Home Sale Price YoY Change
-23%
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