9 Unit apartment on 1.24 acres zoned C1

Multi-Family for Sale
Catylist Listing ID: 30867738
Property Subtypes: Low-Rise/Garden
Number of Units: 9 Units
Building Size (RSF): 4,312 SF
Gross Building Area: See Agent
Sale Price: $400,000
Unit Price: $44,444.44 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 10.0%
Average Occupancy Rate: 100
Last Updated: 4/2/2024

Overview / Comments

Opportunity to buy a cash-flowing apartment building with 9 studio apartments. The current owners have made many upgrades including a blacktop parking lot, and LVP flooring in some units. The property is currently 100% occupied bringing in $5,850 in gross rent each month.
The property has a total of 1.24 acres of C1 land. The apartment takes up roughly 1/4 of the land leaving land for future development.

Do not disturb tenants. building will only be shown after an offer has been accepted.

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Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 113700200000
Zoning: C-1 - Commercial District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 815 13,796 38,045
Median Age: 41.64 35.9 38.44
Households: 328 5,156 14,498
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