Old Louisville Multifamily with Retail/Loft

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30376211
Property Subtypes: Low-Rise/Garden, Mid-Rise
Status: Pending
Number of Units: 15 Units
Building Size (RSF): 11,174 SF
Gross Building Area: 13,580 SF
Sale Price: $425,000
Unit Price: $28,333.33 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/4/2019

Overview / Comments

Listed for sale is this majestic Old Louisville multifamily property with 14 residential apartment units at 1136 S 3rd St and then a retail/loft unit at 1140 S 3rd St. Enter the main building into grand foyer with original 1920's staircase and moldings throughout. First floor has three apartment units, Second floor has four additional units and then third floor has three additional. Most units have furnaces tied into chimney venting and window/wall air conditioning, apartment stoves and refrigerators. Two units on first floor have electric baseboard heating. On the back of the property is a carriage house with four additional rental units. Owner pays all utilities for residential units at 1136 S 3rd St. Most units are rented with various lease expirations. The first floor retail space unit at 1140 S 3rd is 1,156 sq ft with a loft apartment above the space with the same square footage. Tenant is on month to month lease. Building has a large unfinished 2,150 sq ft basement with updated electric panel and water heater for the building. All buildings sit on a .27 acre lot in Old Louisvilles historic 3rd St corridor.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Zoning: TNZD - Traditional Neighborhood Zoning District
Percent Occupied: 80%
Property Located Between: 3rd St between E St Catherine and Oak St
Total Number of Buildings: 3
Property Condition: Average
Number of Stories: 3
Year Built: 1927
Construction/Siding: Brick
Laundry: Laundromat Nearby
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Baseboard, Other
Fuel: Gas, Electric
Air Conditioning: Window Unit
Zoning Description: Traditional Zoning
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,082 146,649 313,483
Median Age: 34.27 35.42 36.64
Households: 12,139 63,491 134,805

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