Phoenix Hill Multi-Family Opportunity

Multi-Family for Sale
Catylist Listing ID: 30384319
Number of Units: 8 Units
Building Size (RSF): 6,100 SF
Gross Land Area: 0.25 Acres
Sale Price: $660,000
Unit Price: $82,500 Per Unit
Property Use Type: Investment
Usable Size (USF): 6,100 SF
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 2/22/2019

Overview / Comments

Just east of Downtown, walking distance to the Highlands, NULU, Paristown Pointe, Butchertown and the Central Medical District. One of the fastest growing areas of the city as the Downtown expands and next to large projects like the new Louisville City FC Stadium, the Kentucky Centre at Paristown and the Barrett Ave Corridor. Two buildings that share a large fenced back yard. 817/819 is a 6-plex and 821 is a duplex. 6 units remodeled within the last 18 months, including multiple new appliances and mechanicals. A loft area on the 3rd floor of the 6-plex can be made into a 9th unit featuring exposed brick and great views. The duplex has long term tenants (c. 20 years) and rents are significantly below market rates. Units range from 1 to 2 bedrooms. Financial information available on demand.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Taxing Authority: Jefferson County
Tax ID/APN: 016K00500000
Zoning: C-1 - Commercial District
Percent Occupied: 100%
Property Located Between: S Shelby St and E Chestnut
Highway Access: accessible from I-64, I-65, and I-71
Airports: SDF
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Built: 1900
Year Renovated: 2018
Roof Type: Gable
Construction/Siding: Brick/Vinyl Siding
Parking Description: Street parking only for tenants
Laundry: Shared
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,705 134,505 317,898
Median Age: 33.95 36.21 37.43
Households: 8,538 60,521 138,408
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