Old Louisville Apartment - 504 W Ormsby Ave
Multi-Family
for Sale
| Catylist Listing ID: |
30838845 |
| Number of Units: |
7 Units |
| Building Size (RSF): |
4,714 SF |
| Gross Building Area: |
See Agent |
| Sale Price: |
$465,000 |
| Unit Price: |
$66,428.57 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/19/2023 |
Overview / Comments
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This beautiful 4717 Sq. Ft. Victorian is situated on West Ormsby Ave. between 4th & 6th Streets in Historic Old Louisville and offers 7 rental units with a gross monthly income of $4,684. There is one 2-bedroom, two 1-bedrooms, one efficiency apartment and three studio apartments (2 of which have loft areas). Lots of Old-World charm and character throughout the building including natural woodwork, original staircase, fireplace mantles, leaded and stained-glass windows and door. The roof was completely torn off and replaced in 2021. There are 2 gas furnaces with central air systems (both 2012 Tempstar brand) and 2 gas hot water heaters. The HVAC units heat and cool the 1st & 2nd floor units and the 3rd floor units are heated with gas space heaters and cooled with window AC units. There is a complementary full-size washer & dryer in the 1700 Sq. Ft. basement for all tenants use which could also provide storage. A large yard with off street parking for 4-6 cars is accessed off the rear alley. One of the 3rd floor units has a newer deck off the rear. Per LOJIC maps the lot is approximately 45’ X 225’. Lease terms vary, please see the attached rent roll for more details on rents and security deposits. The monthly average for water/sewer is $285 and the average LG&E runs approximately $800 per month. The property was appraised by Bell Ferris, Inc. in January 2023 for the list price of $465,000.
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Additional Details
| Nearest MSA: |
Louisville/Jefferson County |
| County: |
Jefferson |
| Tax ID/APN: |
032D00230000 |
| Zoning: |
TNZD - Traditional Neighborhood Zoning District |
| Property Located Between: |
4th and 6th |
| Highway Access: |
I-65 |
| Property Condition: |
Average |
| Number of Stories: |
3 |
| Year Built: |
1905 |
| Roof Type: |
Hip |
| Construction/Siding: |
Brick, Stone, Wood Frame |
| Total Parking Spaces: |
6 |
| Laundry: |
Shared |
| Sprinklers: |
None |
| Heat Type: |
Electricity, Natural Gas, Space Heaters |
| Heat Source: |
Central, Other |
| Fuel: |
Gas, Electric |
| Air Conditioning: |
Window Unit, Other |
| Internet Access: |
Cable |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal, Storm |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
20,993 |
148,721 |
310,544 |
| Median Age: |
32.79 |
35.38 |
36.71 |
| Households: |
9,780 |
64,344 |
133,596 |
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The information presented herein is provided as is, without warranty of any kind.
Neither Kentucky Commercial Real Estate Alliance nor
Moody's assume any liability for errors or omissions.
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