Mansion and office rentals

Multi-Family for Sale
Catylist Listing ID: 30798187
Property Subtypes: Mixed Use
Number of Units: 18 Units
Building Size (RSF): 12,086 SF
Gross Building Area: 21,095 SF
Gross Land Area: 0.92 Acres
Sale Price: $2,595,000
Unit Price: $144,166.67 Per Unit
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 95
Last Updated: 9/9/2023

Overview / Comments

Incredible Victorian mansion with office building. Long term tenants including a new government 20 year lease. 3 apartments, parking and commercial income. Property includes multiple buildings and parking for 50 plus cars with alley access or from Second street. Rental income has great upside. Additional carriage house space that can be finished out as studio with apartments or two additional apartments. Mansion can be used as incredible home, event space or bed and breakfast. It includes commercial catering kitchen with beautiful granite work space. The mansion includes 6 bedrooms, large assembly rooms formal living, parlor and dining room. The entrance foyer is spectacular and opens to beautiful open staircase to access the second and third floors. Stained, and leaded glass windows, ornate woodwork moldings and working pocket doors. The mansion has been lovingly restored to its original beauty by the current long term owners. Adjoing office building tenants enter through the front door with lobby or through the rear courtyard. Commercial tenet leases the basement and garage spaces.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 032E00560000
Zoning: TNZD - Traditional Neighborhood Zoning District
Property Located Between: Magnolia and Ormsby on Third Street
Highway Access: Easy from I-65
Airports: Louisville Inyrernational Airport
Site Description: 1347 (.2183) and 1355 (.3675) S Third compromised of four buildings and parking lots 1354 (.1891) + 1356 (.142) South Second for 50 parking spaces. Well maintained and landscaped. Paved parking areas
Area Description: historic Old Louisville are with direct access to downtown business, entertainment and restaurant area.
Total Number of Buildings: 4
Number of Stories: 3
Year Built: 1899
Year Renovated: 2021
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Brick and stone
Parking Ratio: 2.8 (per 1000 SF)
Parking Type: Surface
Parking Description: Paved parking lot access from second street or alley and designated parking in paved lot behind buildings
Total Parking Spaces: 50
Sprinklers: None
Heat Type: Hot Water, Steam
Heat Source: Central
Air Conditioning: Evaporative Cooler, Window Unit
Internet Access: Cable
Interior Description: Commercial offices and restored victorian mansion
Zoning Description: TNZD, traditional neighborhood with grand fathered commercial offices
Lot Frontage: 132
Lot Depth: 183
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Partnership

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 25,275 147,539 317,542
Median Age: 32.32 35.26 36.69
Households: 11,420 63,983 136,333


Photograph of Listing Agent

Tony A Stefater

The Breland Group KCREA Member
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