Multi-Family Auction in Old Louisville - 10 units

Multi-Family for Sale
Auction
Catylist Listing ID: 30630320
Property Subtypes: Mid-Rise
Number of Units: 10 Units
Building Size (RSF): 4,400 SF
Gross Building Area: 5,537 SF
Sale Price: See Agent
Property Use Type: Investment
Sale Terms: Undisclosed
Up For Auction: Yes
Auction Type: Undisclosed Reserve
Auction License Number: P851
Cap Rate: Undisclosed
Last Updated: 8/3/2020

Overview / Comments

ONLINE ONLY AUCTION! Bidding is open and will end on August 11, 2020 4pm at www.bidkentucky.com

Welcome to 1441 S 3rd Street nestled on Millionaires Row in Historic Old Louisville. This circa 1890’s solid brick Victorian home with approximately 5537 Sq. Ft. above grade and the basement with approximately 1569 Sq. Ft. was more than likely converted into rental units in the 1940s or 1950’s. The property is approximately 33’ wide X 190’ deep and has a carriage house at the rear of that lot off the alley. The main building is heated by a boiler (hot water heat) and the units are cooled with window air conditioners. All utilities (except cable) are included in the monthly rent. Each unit has a stove and refrigerator. There are 7 units in the above grade area of the main house, 2 units in the lower level of the main house and 1 unit in the carriage house. There are 2 efficiency units, 3 studio units, 4 one-bedroom units & 1 two-bedroom unit. Rents range from $420 - $870 per unit (please see attached rent roll for more information, leases, etc.). Total monthly rents generate $6195 with expenses of water, sewer, LG&E, taxes and property insurance of approximately $2087 per month which creates a $4108 net monthly income (see attached rent roll for breakdowns).

PRIOR SALE: We are not allowing any showings prior to the open house, therefore we have changed any pre-auction offers to August 6th.

Open House: Wednesday, August 5, 12-2pm. CDC guidelines will be followed.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 033B00940000
Zoning: TNZD - Traditional Neighborhood Zoning District
Percent Occupied: 100%
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1890
Construction/Siding: Brick/Vinyl Siding
Heat Type: Steam
Heat Source: Radiant
Air Conditioning: Window Unit
Zoning Description: TNZD
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,297 149,784 312,820
Median Age: 32.06 35.14 36.75
Households: 10,862 64,727 134,453

Contact

Photograph of Listing Agent

Julie Bex

RE/MAX 100 KCREA Member
Photograph of Listing Agent

Michael Mawood

RE/MAX 100 KCREA Member
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