Catylist ID:
#30834949
Residential Condo Portfolio in Highly Desirable Submarket
Multi-Family
for Sale
| Catylist Listing ID: | 30834949 |
| Property Subtypes: | Low-Rise/Garden |
| Number of Units: | 10 Units |
| Building Size (RSF): | 7,110 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $890,000 |
| Unit Price: | $89,000 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 100 |
| Last Updated: | 3/25/2023 |
Overview / Comments
|
Well Maintained and Profitable Residential Condo portfolio located in the highly desirable Jeffersontown submarket of Louisville. The portfolio is comprised of seven 2-bedroom 1-bathroom units and three 1-bedroom 1-bathroom units. Many of the units have been renovated as the Owner updates them as they turn over. Condo association covers general maintenance of the building's exterior, hallways & laundry room as well as trash pick-up, water & sewer & landscaping. Tenants are responsible for paying for their own electricity. Very stable tenant base as there is a lack of affordable condo/apartment inventory in the area. Significant value-add opportunity for investors as rents are currently below market and rental demand in the area is very strong. Additionally, investors could hold the portfolio for a while and then sell off the condos individually. Jeffersontown saw an over 18% appreciation in residential home values since 2021 and there is strong buyer demand for affordable housing options for purchase. To review the property data & financials, please fill out the Confidentiality Agreement in the "Documents" section of this listing. |
Attachments & Media
Additional Details
| Nearest MSA: | Louisville/Jefferson County |
| County: | Jefferson |
| Tax ID/APN: | 003802580000 |
| Zoning: | R-7 - Residential Multi-Family District |
| Percent Occupied: | 100% |
| Highway Access: | Less than a mile from Taylorsville & Hurstbourne Pkwy intersection. |
| Area Description: | Less than a mile from Stonybrook Shopping Center & other national retailers. Less than 1.5 miles from Downtown Jeffersontown. Across the street from the popular K-9 Dog Park Bar. |
| Total Number of Buildings: | 1 |
| Property Condition: | Good |
| Number of Stories: | 3 |
| Year Built: | 1972 |
| Year Renovated: | 2023 |
| Construction/Siding: | Brick |
| Parking Type: | Surface |
| Parking Description: | Parking is plentiful |
| Laundry: | Shared |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Fuel: | Electric |
| Air Conditioning: | Engineered System |
| Zoning Description: | R-7 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 12,361 | 98,225 | 224,889 |
| Median Age: | 37.5 | 40.18 | 39.56 |
| Households: | 5,285 | 42,487 | 96,504 |
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