12 Unit Multifamily Investment Opportunity - Old Louisville

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30295409
Property Subtypes: Duplex/Fourplex
Status: Pending/Contingent
Number of Units: 12 Units
Building Size (RSF): 6,552 SF
Gross Land Area: 0.14 Acres
Sale Price: $499,000
Unit Price: $41,583.33 Per Unit
Property Use Type: Investment
Building Name: Nelson Holdings Woodbine Portfolio
Usable Size (USF): 6,552 SF
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Average Occupancy Rate: 92
Last Updated: 7/8/2018

Overview / Comments

Three good Old Louisville 4-plexes (all one bedroom, one bath with two units down and two units up in each building). Solid existing rent roll (only one vacancy at listing to be held vacant for showing purposes - showings available 12-5 PM Monday-Friday). Kitchen appliances provided by landlord. Being offered at a 9 CAP rate based on 2017 actual financials, even though 2017 figures include substantial upgrade costs. Many upgrades completed in past 5 years. Don't delay - this portfolio will sell quickly. Selling in cooperation with Tyler Chesser, Gant Hill & Associates, 502-648-9523.

Financials

Finance Data Year 2017
Gross Operating Income $82,261 (Annual)
Net Operating Income $44,864 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Taxing Authority: Metro Louisville
Tax ID/APN: Block 32G, Lot 58, 60 & 61
Zoning: TNZD - Traditional Neighborhood Zoning District
Percent Occupied: 92%
Property Located Between: Preston & Floyd Streets
Highway Access: Easy access to I-65
Airports: Louisville International
Site Description: Slightly raised pads for each building. Street parking on both sides of this one way street.
Area Description: Conveniently located in the Old Louisville Neighborhood close to the University of Louisville and Germantown. Easy access to Interstates and local streets to downtown, the airport and all of Louisville and Jefferson County.
Total Number of Buildings: 3
Property Condition: Good
Number of Stories: 2
Year Built: 1927
Year Renovated: 2015
Roof Type: Arched
Construction/Siding: Vinyl Siding, Wood Siding
Parking Type: Surface
Parking Description: Adequate on street parking on both side of this one way street.
Heat Type: Electricity, Natural Gas
Heat Source: Central, Wall Units, Heat Pump
Fuel: Gas, Electric
Air Conditioning: Package Unit, Window Unit
Internet Access: Cable
Interior Description: All units are one bedroom, one bath with living room and eat-in kitchen. Units are in good condition in general. One unit is vacant for showing purposes. Properties can be inspected 12-5, Monday through Friday. Complete inspection of all units and spaces with accepted offer.
Zoning Description: TNZD - Traditional Neighborhood Zoning District, distinct to the Old Louisville Area to sustain the quality of the neighborhood.
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 27,189 144,719 321,610
Median Age: 33.26 35.18 36.69
Households: 12,540 63,778 138,080
© Copyright 2001-2018 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.