Catylist ID: #30823876
Hikes Point Mulitfamily Opportunity
Multi-Family for Sale
|Catylist Listing ID:||30823876|
|Number of Units:||6 Units|
|Building Size (RSF):||5,600 SF|
|Gross Building Area:||See Agent|
|Unit Price:||$77,500 Per Unit|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller|
Overview / Comments
Immediate upside is available for this 6 plex apartment building located in the Hikes Point neighborhood in East Louisville. It has been well maintained by the same owners for many decades. It was originally a 4-plex that had an additional 2 units added on in the 90’s, making a large portion of the property less than 30 years old.
The property is 100% occupied with rents that are well below market with short term leases, offering immediate upside in rents. All kitchens have been updated within the past 15 years. Washer/dryer hookups are in two apartments, and the other four have large, finished storage rooms in the basement with hookups. All units are separately metered for gas and electric.
The sub-market is extremely stable and is one of the more desirable areas for quality workforce housing. Investors will enjoy upside in rents and long term appreciation in an infill area that is mature, yet continuing to see new development and improvement.
>> Separately metered for LG and E
>> Washer/dryer hookups for all units
>> Long term owner and well-below market rents
Attachments & Media
|Nearest MSA:||Louisville/Jefferson County|
|Zoning:||R-5A - Residential Multi-Family District|
|Proximity:||1 mile||3 miles||5 miles|
Reed B WeinbergPRG Commercial Property Advisors KCREA Member
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