Germantown Triplex <> FOR SALE

Multi-Family for Sale
Catylist Listing ID: 30867534
Property Subtypes: Duplex/Fourplex
Number of Units: 3 Units
Building Size (RSF): 2,502 SF
Gross Land Area: 0.08 Acres
Sale Price: $275,000
Unit Price: $91,666.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: 2058 S. Preston TriPlex
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 4/15/2024

Overview / Comments

Now offering this three-unit Germantown apartment building located at 2058 S. Preston Street FOR SALE. Offers two first floor units, one second floor unit, and a garage/storage building in the rear with alley access. Three parking spaces offered in the rear off alley, and along S. Preston Street for tenant parking. With recent updates to kitchen, bath, and lighting, this property has been well maintained.

Located in the highly desirable Germantown neighborhood of Louisville, this 3-unit apartment building is very close to the University of Louisville, great restaurants, bars, live music venues, quick access to downtown Louisville and the Highlands.

Unit Rent:
1st Floor- Unit 1 (1 bed, 1 bath): $825 per month
1st Floor- Unit 2 (large 1 bed, 1 bath): $920 per month
2nd Floor- Unit 3 (large 1 bed, 1 bath): $700 per month
TOTAL = $2,445 per month // $29,340 per year

Financials

Finance Data Year 2024
Real Estate Taxes - Annual($) $2,013 (Annual)
Gross Operating Income $29,340 (Annual)
Net Operating Income $23,683 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Submarket/Township: 02 - Butchertown / Highlands / Germantown
Submarket Type: Redevelopment District
Tax ID/APN: 035LSROW0000
Zoning: R-6 - Residential Multi-Family District
Percent Occupied: 100%
Property Located Between: Lynn Street & E. Barbee Ave
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Built: 1900
Year Renovated: 2024
Zoning Description: R-6

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,008 149,529 316,452
Median Age: 33.47 35.36 36.79
Households: 9,809 65,730 136,403
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