$565,000
SOLD JAN 10, 2025
Last list price

901 Lamar St Lafayette, LA 70501

Freetown-Port Rico Neighborhood
8 Beds
4 Baths
3,544 Sq Ft
5,188 Sq Ft Lot

Recently Sold

$159 Per Sq Ft

121 Days on Market

Highlights

  • Corner Lot
  • Central Air
  • Ceiling Fan
  • Woodvale Elementary School Rated A-
  • Dining Room
  • Partially Fenced Property

About This Home

As of January 2025

*Tenant occupied property. Accepted offer/proof of funds required prior to showings. 48 notice required* *Ask about creative financing, 30%-40% owner finance/cash back option*Discover a prime investment opportunity with this 6-unit multi-family property in Freetown, perfectly situated within walking distance of the university. Each 2-bedroom, 1-bathroom, 886 sqft unit has been tastefully refreshed with laminate flooring, fresh paint, and more. Currently 100% occupied with tenants responsible for all utilities, this property generates an average rent of approximately $825 per unit, with potential for increases upon renewal. The owner is only responsible for taxes and insurance, making this a fantastic turnkey investment in a high-demand rental area.

Last Agent to Sell the Property

Teresa Rainey

Real Broker, LLC License #0995691537 Listed on: 07/25/2024

Last Buyer's Agent

Michael Carr

Keller Williams Realty Acadiana

Property Details

Home Type

  • Multi-Family

Lot Details

  • 5,188 Sq Ft Lot
  • Lot Dimensions are 50 x 103.75
  • Partially Fenced Property
  • Chain Link Fence
  • Corner Lot
  • Level Lot

Home Design

  • Brick Exterior Construction
  • Slab Foundation

Interior Spaces

  • 3,544 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Dining Room
  • Laminate Flooring
  • Fire and Smoke Detector
  • Electric Cooktop

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Full Bathrooms

Parking

  • 13 Parking Spaces
  • Assigned Parking

Schools

  • Woodvale Elementary School
  • L J Alleman Middle School
  • Lafayette High School

Utilities

  • Central Air
  • Multiple Heating Units
  • Cable TV Available

Listing and Financial Details

  • Total Actual Rent $3,175
  • Tenant pays for broadband/internet access, cable/sat TV, electricity, sewer, trash collection, water
  • Tax Lot 21

Community Details

Overview

  • 6 Units
  • Second Mouton Subdivision

Building Details

  • 4 Leased Units
  • Insurance Expense $9,148
  • New Taxes Expense $3,777
  • Gross Income $60,000

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.1191
  • Lot Size: 50 x 103.75
  • Subdivision Name: Second Mouton
  • Directions: Take Johnston Street north and turn right onto General Mouton. Turn left onto Lamar. Complex will be on your right.
  • Carport Y N: No
  • Garage Yn: No
  • New Construction: No
  • Building Stories: 2
  • ResoPropertyType: ResidentialIncome
  • List_136: 92.014856
  • Special Features: None
  • Stories: 2

Interior Features

  • Number Of Buildings: 1
  • Appliances: Electric Range, Refrigerator, Electric Cooktop
  • Full Bathrooms: 4
  • Total Bedrooms: 8
  • Flooring: Laminate, Other
  • Interior Amenities: Ceiling Fan(s), Unit 1(Dining Room), Unit 2(Dining Room), Unit 3(Dining Room), Unit 4(Dining Room)
  • Living Area: 3544

Exterior Features

  • Fencing: Chain Link, Partial
  • Lot Features: Corner Lot, Level
  • Construction Type: Brick, Brick Veneer
  • Foundation Details: Slab
  • Property Condition: 41 - 50 Years
  • Roof: Other

Garage/Parking

  • Parking Features: Assigned
  • Total Parking Spaces: 13

Utilities

  • Security: Smoke Detector(s)
  • Cooling: Central Air, AC Unit(s)
  • Cooling Y N: Yes
  • Heating: Central,Electric, Heat Unit(s)
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: Cable Available
  • Water Source: Public

Schools

  • Elementary School: Woodvale
  • Junior High Dist: Lafayette Parish
  • High School: Lafayette
  • Middle Or Junior School: L J Alleman

Lot Info

  • Lot Size Sq Ft: 5187.5
  • Zoning: MN-1
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Broadband/Internet Access, Cable/Sat TV, Electricity, Sewer, Trash Collection, Water

Multi Family

  • Number Of Units Total: 6
  • Annual Gross Income: 60000
  • Insurance Expense: 9148
  • Number Of Units Leased: 4
  • Total Actual Rent: 3175

Tax Info

  • New Taxes Expense: 3777
  • Tax Lot: 21

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 25, 2024
Closed on
Jan 10, 2025
Sold by
Boudreaux Capital Llc
Bought by
Acadiana Outreach Center Inc
Seller's Agent
Teresa Rainey
Real Broker, LLC
Buyer's Agent
Michael Carr
Keller Williams Realty Acadiana
List Price
$565,000
Views
58
Current Estimated Value
$545,602

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-1.78%

Purchase Details

Closed on
Apr 28, 2023
Sold by
Seven Oaks Grand Coteau Llc
Bought by
Boudreaux Capital Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$517,400
Interest Rate
6.6%
Mortgage Type
Construction

Purchase Details

Closed on
Jun 29, 2021
Sold by
Cobert Holdings Llc
Bought by
Seven Oaks Grand Coteau Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$407,537
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 21, 2018
Sold by
Carter Investment Group Co Llc
Bought by
Cobert Holdings Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$551,250
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 12, 2005
Sold by
Landry & Landry Properties Llc
Bought by
Blue Sky Properties Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Deed $555,000 Lalande Title
Deed $515,000 None Listed On Document
Cash Sale Deed $475,000 None Available
Cash Sale Deed $605,000 First American Title
Cash Sale Deed $225,000 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $517,400 Construction
Previous Owner $407,537 New Conventional
Previous Owner $551,250 New Conventional
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/10/2025 01/10/25 Sold -- -- --
11/24/2024 11/24/24 Pending -- -- --
07/25/2024 07/25/24 For Sale $565,000 0.0% $159 / Sq Ft
04/01/2014 04/01/14 Rented $750 0.0% --
04/01/2014 04/01/14 Under Contract -- -- --
03/18/2014 03/18/14 For Rent $750 -- --
Source: REALTOR® Association of Acadiana

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $4,902 $46,599 $2,042 $44,557
2023 $4,902 $36,115 $2,042 $34,073
2022 $2,890 $27,617 $2,042 $25,575
2021 $2,899 $27,617 $2,042 $25,575
2020 $2,890 $27,617 $2,042 $25,575
2019 $2,276 $27,617 $2,042 $25,575
2018 $2,818 $27,617 $2,042 $25,575
2017 $2,196 $21,542 $2,042 $19,500
2015 $1,863 $20,300 $800 $19,500
2013 -- $18,300 $800 $17,500
Source: Public Records

Agents Affiliated with this Home

  • Teresa Rainey

    Seller's Agent in 2025

    Teresa Rainey

    Real Broker, LLC

    (337) 230-2271

    3 in this area

    93 Total Sales

    Teresa Rainey
    Section Image

  • M

    Buyer's Agent in 2025

    Michael Carr

    Keller Williams Realty Acadiana

  • C

    Seller's Agent in 2014

    Christie House

    Keller Williams Realty Acadiana

  • J

    Buyer's Agent in 2014

    John Pitre

    ERA Stirling Properties

  • F

    Buyer's Agent in 2014

    Felix Pitre

    Latter & Blum

See All Agents

Map

Source: REALTOR® Association of Acadiana

MLS Number: 24007027

REALTOR® Association of Acadiana

APN: 6054633

Louisiana Lafayette Parish Lafayette 70501 Freetown-Port Rico

901 Lamar St, Lafayette, LA

Sold

MultiFamily

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REALTOR® Association of Acadiana The data relating to real estate for sale on this web site comes in part from the IDX Program of the REALTOR® Association of Acadiana’ MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable, but not guaranteed accurate.

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