First St. Apartments

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30840007
Status: Pending
Number of Units: 5 Units
Building Size (RSF): 5,084 SF
Gross Land Area: 0.16 Acres
Sale Price: $459,000
Unit Price: $91,800 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: First Street Apartments
Sale Terms: Cash to Seller, Purchase Money Mortgage, Other
Cap Rate: Undisclosed
Last Updated: 5/16/2023

Overview / Comments

Wow! $39,300.00 in annual gross rental income with 100% occupancy!. An incredible opportunity to own a stellar 5-plex in Old Louisville with ample off-street parking! Sellers have enjoyed owning this building for over 30 years but are now moving on to the next chapter of their lives and have thus decided to put this desirable property up for sale. Each unit features hardwood floors, spacious room sizes, and loads of natural light! The attractive living spaces, along with the handy off-street parking, have proven to easily attract quality renters. Located close to downtown, University of Louisville, and with easy access to interstates. Don’t let this rare find pass you by!

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Taxing Authority: Metro Louisville
Tax ID/APN: 032B00610000
Zoning: TNZD - Traditional Neighborhood Zoning District
Percent Occupied: 100%
Property Located Between: W. Oak & W. Ormsby Streets
Highway Access: Approx. 2 blocks to I-65 interchange
Airports: 10 minutes to Louisville Muhammad Ali International
Site Description: 2.5 Story 5-plex on .163 acre corner lot with ample off street parking
Area Description: High density residential , blocks from U of L
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1897
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Solid brick exterior with large front porch and rear sun porch.
Parking Type: Surface
Parking Description: Gravel lot in rear of building
Total Parking Spaces: 7
Sprinklers: Other
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: 5 Separage apts. including 1-2 BR, updated with functional floor plans
Zoning Description: TNZD
Lot Frontage: 36
Lot Depth: 200
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Unknown
Land Ownership: Private
Legal Description: 36x200 WS 1st between Oak & Ormsby # 1238-40 SO 1st

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,954 147,381 317,947
Median Age: 32.75 35.2 36.71
Households: 11,766 64,360 136,562


Photograph of Listing Agent

Tim C Stephens

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