Multi-Family Auction in Old Louisville - 6 units

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30630324
Property Subtypes: Mid-Rise
Status: Pending
Number of Units: 6 Units
Building Size (RSF): 3,150 SF
Gross Building Area: 4,236 SF
Sale Price: See Agent
Property Use Type: Investment
Sale Terms: Undisclosed, Cash to Seller
Up For Auction: Yes
Auction Type: Undisclosed Reserve
Auction License Number: P851
Cap Rate: Undisclosed
Last Updated: 8/12/2020

Overview / Comments

ONLINE ONLY AUCTION! Bidding is open and will end on August 11, 2020 4pm at www.bidkentucky.com

This great investment property is super easy to keep fully rented as it is located on what is know as Millionaires Row in Historic & Sought-after Old Louisville. Originally built as a single-family home in the late Circa 1890’s and was likely converted to sleeping rooms or apartments in the late 1940’s or early 1950’s to create income during the war. The 30’ X 103’ lot (per Lojic map) is on the smaller side which means less yard work for the investor. The main structure offers approximately 4236 Sq. Ft. above grade with an additional 1404 Sq. Ft. in the lower level. The basement currently has 2 sets of washers & dryers that are used by this building along with the tenants of 1441 S 3rd that is owned by the same investor. The property is heated by forced air gas furnace and cooled with landlord provided window air conditioners. Kitchens have ranges and refrigerators. All utilities are included in the rent (except for cable TV but hook-ups are in place for them). There are a total of 6 units in this building consisting of 1 Efficiency on the 1st floor, a studio on the 2nd floor and four additional 1 bedroom units (1 on the 1st floor, 1 on the 2nd floor and 2 on the 3rd floor). The rents range from $450 - $740 per unit (please see attached rent roll for more information, leases, etc. The total monthly rents generate $3690 with monthly expenses of water / sewer, LG&E, taxes and property insurance of approximately $1657 per month which creates a net monthly income of $2033. (See attached rent roll for breakdowns).

PRIOR SALE: We are not allowing any showings prior to the open house, therefore we have changed any pre-auction offers to August 6th.

Open House: Wednesday, August 5, 12-2pm. CDC guidelines will be followed.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 033B00930000
Zoning: TNZD - Traditional Neighborhood Zoning District
Total Number of Buildings: 1
Property Condition: Good
Construction/Siding: Brick
Heat Type: Natural Gas
Air Conditioning: Window Unit

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 23,100 149,784 312,820
Median Age: 32.39 35.14 36.75
Households: 10,428 64,727 134,453

Contact

Photograph of Listing Agent

Julie Bex

RE/MAX 100 KCREA Member
Photograph of Listing Agent

Michael Mawood

RE/MAX 100 KCREA Member
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