Flex Warehouse, Furnished Duplex & 4 Buildable Lots

Multi-Family for Sale
Catylist Listing ID: 30860375
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Mid-Rise, Mixed Use, Senior Living, Student Housing, Other
Number of Units: 3 Units
Building Size (RSF): 14,734 SF
Gross Land Area: 0.50 Acres
Sale Price: $1,250,000
Unit Price: $416,666.67 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/24/2024

Overview / Comments

This property offers an exciting redevelopment opportunity on the edge of NULU in the Phoenix Hill Neighborhood.

The property consists of 6 total lots, with a renovated and furnished duplex 832 SF/unit and a 13,070 SF historic warehouse that is prime for a multi-family/mixed-use redevelopment project.

In addition to the buildings, the asking price includes .31 acres of vacant land zoned OR-2.

The duplex features a solid tenant base of medical professionals seeking close proximity to downtown Louisville's medical hub.

Currently, the warehouse is being utilized as a USDA-approved facility and storage for 2 companies that will vacate upon closing. With the OR-2 zoning, the warehouse could be converted to multifamily, office, and/or event space.

Disclaimer: This information has been obtained from reliable sources. Broker has no reason to doubt its accuracy but it may contain errors or omissions. Broker makes no representation, warranties or guarantees with respect to this information and Buyer should review all of it.

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Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 016E01590000
Zoning: OR-2 - Office/Residential District
Property Located Between: E Chesnut & S Campbell St
Highway Access: I-64 & I-65
Airports: Louisville International Airport - 7.1 miles
Site Description: - 13,070 sqft warehouse with 3 vacant side lots. - With OR-2 Zoining the property can be utilized for short term rentals or up to 20 residential units given current area size. - The Warehouse has 3 garage doors - The steel and concrete block constructed warehouse was built to last. It includes a commercial kitchen, PVC & TPO roofs, as well as a designated office area. - Duplex brings in $3k a month, two 1BR apartments that rent for $1500 to travel nurses & other traveling professionals. Duplex purchase includes all furnishings.
Area Description: Well positioned just outside the growing Nulu Corridor in the Phoenix Hill Neighborhood. Very close proximity to the downtown medical district.
Total Number of Buildings: 2
Property Condition: Excellent
Number of Stories: 2
Year Built: 1890
Year Renovated: 2019
Roof Type: Flat
Construction/Siding: Concrete, Vinyl Siding
Exterior Description: Warehouse: steel and concrete block constructed with PVC & TPO roof Duplex: vinyl siding, shingle roof
Parking Type: Surface
Parking Description: 2 parking spots behind the units and street parking.
Total Parking Spaces: 2
Laundry: In Each Unit
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Zoning Description: OR-2
Lot Frontage: 133
Lot Depth: 162
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,351 130,901 315,268
Median Age: 33.9 36.46 37.6
Households: 7,160 59,353 137,691

Contact

Photograph of Listing Agent

Stephanie L Gilezan

EXP Realty LLC KCREA Member
Photograph of Listing Agent

Cal J Lewellyn

EXP Realty LLC KCREA Member
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