EXTREMELY RARE OPPORTUNITY-10 Units Germantown

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30188188
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 10 Units
Building Size (RSF): 6,750 SF
Gross Building Area: See Agent
Sale Price: $849,999
Unit Price: $84,999.90 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Last Updated: 1/23/2018

Overview / Comments

EXTREMELY RARE OPPORTUNITY to purchase an all brick 10-Plex located in highly sought after Germantown. The property spans a full block at the corner of Ellison and Krieger (actual addresses are 1000 Ellison Ave and 1205-1215 Krieger St. Separate Meters (except water). 5 units with central air. 5 units with window/wall units. All units have gas furnaces. 3 new furnaces. 4 furnaces new in 2009. 5 New water heaters. Some replacement windows. Roof is approximately 6 years old per previous seller. All ranges/refrigerators and window/wall units are landlord owned . City garbage cans. 2017 owner expenses are as follows. Water $3,800. Taxes $4,797.44. Insurance $4,186. $7,115 gross monthly income with potential to raise rents to fair market value of $8,000 or so. Solid 8% current CAP rate.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 025J02010000
Zoning: R-1 - Residential Single Family District
Percent Occupied: 100%
Property Located Between: Corner of Ellison and Krieger
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Built: 1920
Year Renovated: 2016
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: on street
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas, Electric
Air Conditioning: Window Unit, Other
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,017 133,531 329,922
Median Age: 35.17 36.25 36.93
Households: 9,440 60,677 142,764

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