$215,000
Lafayette, LA 70501
MLS# 2500006589
3 beds | 1 baths
1 / 27
Property Description
Looking for a property that will help financially assist itself for a college student? How about the ability to rent out not one but two units to help supplement a large portion of your mortgage?314 Cleveland is just that property! Perfectly positioned just steps from UL and the heart of downtown Lafayette, this property places you in the middle of everything the city has to offer. From Girard Park and the farmers market to festivals, live music, restaurants, nightlife, the art scene, Downtown Alive, and even the Mardi Gras parade route—you can truly walk to it all. Outdoor lovers will also appreciate easy access to the historic Atakapa-Ishak Bike Trail, making this location as practical as it is exciting. Beyond the unbeatable setting, this property shines as a flexible income-producing opportunity. The main home features solid construction, spacious bedrooms, and an abundance of natural light throughout—creating a comfortable, livable space that appeals to both owners and tenants alike. Tucked behind the main residence are two separate apartment units, offering built-in rental potential without sacrificing privacy. The rear apartments include a 700-square-foot first-floor 2-bedroom, 1-bath unit and a 560-square-foot second-floor 1-bedroom, 1-bath unit, providing multiple income streams from a single property. Whether you're a seasoned investor looking to add a strong asset in a high-demand rental area, or a first-time buyer or college student seeking to live in the main home while rental income helps offset—or even cover—the mortgage, this property offers a smart path to ownership. Opportunities like this are rare: a walkable downtown location, multiple living spaces, and true income potential all in one. Live, invest, and build equity in one of Lafayette's most vibrant and sought-after areas!
Details
Documents
Listing Info
Delayed Marketing: No
List Price/SqFt: 165.38
Property Attached: No
Document Modified: 2025-12-30 13:19:57.297378
Status: Active
Listing Date: 2025-12-30
Listing Price: 215000
Current Price: $215,000
Type: Single Family Residence
Modification Timestamp: 2025-12-30T19:29:39Z
Photo Modified: 2025-12-30T19:19:57Z
Location, Tax & Legal Info
Flood Zone: X
School District: Lafayette Parish
Legal Desc: C P OF LOT 3 BLK 2 J E TRAHAN EXT
General Property Description
Approximate Age: 41 - 50 Years
Lot Dimensions: 50X125
Stories: 1
SqFt - Living: 1300
SqFt - Source: Approximate
Mineral Rights: Negotiable
Assn Fee: None
Property Condition: Resale
Acreage Range: 0 - 0.5
Pool on Subject Property: No
# Bedrooms: 3
Baths - Full: 1
Total Baths: 1
Year Built: 1955
Acres: 0.14
Remarks & Misc
Remarks: Looking for a property that will help financially assist itself for a college student? How about the ability to rent out not one but two units to help supplement a large portion of your mortgage?314 Cleveland is just that property!
Perfectly positioned just steps from UL and the heart of downtown Lafayette, this property places you in the middle of everything the city has to offer. From Girard Park and the farmers market to festivals, live music, restaurants, nightlife, the art scene, Downtown Alive, and even the Mardi Gras parade route—you can truly walk to it all. Outdoor lovers will also appreciate easy access to the historic Atakapa-Ishak Bike Trail, making this location as practical as it is exciting.
Beyond the unbeatable setting, this property shines as a flexible income-producing opportunity. The main home features solid construction, spacious bedrooms, and an abundance of natural light throughout—creating a comfortable, livable space that appeals to both owners and tenants alike. Tucked behind the main residence are two separate apartment units, offering built-in rental potential without sacrificing privacy.
The rear apartments include a 700-square-foot first-floor 2-bedroom, 1-bath unit and a 560-square-foot second-floor 1-bedroom, 1-bath unit, providing multiple income streams from a single property. Whether you're a seasoned investor looking to add a strong asset in a high-demand rental area, or a first-time buyer or college student seeking to live in the main home while rental income helps offset—or even cover—the mortgage, this property offers a smart path to ownership.
Opportunities like this are rare: a walkable downtown location, multiple living spaces, and true income potential all in one. Live, invest, and build equity in one of Lafayette's most vibrant and sought-after areas!
Office/Member/Contract Info
REO: No
Style
Bungalow: 1
Siding
Aluminum: 1
Parking
Open: 1
Equipment
Attic Fan: 1
Ceiling Fans: 1
Cable Available: 1
Construction
Frame: 1
Foundation
Piers: 1
Roof
Metal: 1
Heating
Central: 1
Interior
Attic Access: 1
Electric Washer Con: 1
Gas Dryer Con: 1
Gas Stove Con: 1
Window Treatments: 1
Cooling
Central Air: 1
Flooring
Carpet: 1
Vinyl Tile: 1
Wood: 1
Sewer
Mechanical Sewer: 1
Public Sewer: 1
Water Source
Water Company: LUS
Appliances
Electric Range: 1
Utilities
Elec: City: 1
Fencing
Chain Link: 1
Wood: 1
Lot
Level: 1
Other Structures
Guest House: 1
Financing
Cash: 1
Conventional: 1
Miscellaneous
Other - See Remarks: 1
Originating Details
Originating System ID: M00000300
Originating System Key: 20251205142943989518
Originating System Listing ID: 2500006589
Originating System Name: RAA Flex
Location Tax Legal Info
Street Number: 314
Street Name: Cleveland
St Suffix: Street
Parish: Lafayette
State: LA
Zip Code: 70501
Subdivision: J Eugene Trahan
Area: G2
Tax Assessment Number: 6065280
Elementary School: Woodvale
Middle School: L J Alleman
High School: Lafayette
Directions: Johnston Street- Cross over University Ave - Right onto General Mouton Ave. - Left onto Gordon St. Right onto Cleveland- Home is on the right.
Property Features
Style: Bungalow
Siding: Aluminum
Parking: Open
Construction: Frame
Foundation: Piers
Roof: Metal
Interior: Attic Access; Electric Washer Con; Gas Dryer Con; Gas Stove Con; Window Treatments
Flooring: Carpet; Vinyl Tile; Wood
Heating: Central
Cooling: Central Air
Appliances: Electric Range
Fencing: Chain Link; Wood
Lot: Level
Other Structures: Guest House
Sewer: Mechanical Sewer; Public Sewer
Utilities: Elec: City
Miscellaneous: Other - See Remarks
Financing: Cash; Conventional
PD - Main house IDX
Listing Office: Real Broker, LLC
Last Updated: December - 30 - 2025
The data relating to real estate for sale or lease on this website comes in part from the IDX program of the REALTOR® Association of Acadiana MLS. The IDX information is provided exclusively for consumers’ personal, non-commericial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
GUIDRY & CO. REAL ESTATE, Lafayette, LA. All offices are independently owned and operated. 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 Real Estate listings held by brokerage firms other than GUIDRY & CO. REAL ESTATE are marked with the MLS approved icon for
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. “Information Deemed Reliable But Not Guaranteed”. Copyright 2016 REALTOR® Association of Acadiana, All rights reserved.
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