Multi-Family Investment Opportunity - Old Louisville

Multi-Family for Sale
Catylist Listing ID: 30657479
Property Subtypes: Low-Rise/Garden
Number of Units: 16 Units
Building Size (RSF): 8,589 SF
Gross Building Area: See Agent
Gross Land Area: 0.28 Acres
Sale Price: $940,000
Unit Price: $58,750 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Last Updated: 11/9/2020

Overview / Comments

This 100% occupied 16-plex in Old Louisville is immaculately maintained and stays fully leased with very little turnover. The offering includes 1225 S. 6th St and 1223 S. 6th St, which is the parking lot (19 spaces) for the building. Conveniently located with ease of access to downtown, the property is situated between U of L and Spalding University, with a 1 mile commute to each. Central Park, Buck's, and other popular destinations are also in very close proximity. Eight studio apartments occupy the original building and eight one bedroom units complete the property in the 1973 addition on the back. Coin laundry and secure storage in basement.

Excellent value-add opportunity for the new owner by bringing rents up to market value and implementing lease adjustments.

Contact Listing Agent for financials and additional information about the property.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 029ESROW0000
Zoning: TNZD - Traditional Neighborhood Zoning District
Percent Occupied: 100%
Year Built: 1880
Roof Type: Other
Construction/Siding: Brick
Parking Type: Surface
Total Parking Spaces: 19
Laundry: Shared
Heat Type: Natural Gas
Heat Source: Central
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,902 147,164 311,808
Median Age: 34.17 35.53 36.72
Households: 11,580 63,728 134,112

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