7-Unit High Income Multi Family Building

Multi-Family for Sale
Catylist Listing ID: 30872544
Property Subtypes: Mid-Rise
Number of Units: 7 Units
Building Size (RSF): 6,048 SF
Sale Price: $569,000
Unit Price: $81,285.71 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 9.6%
Average Occupancy Rate: 100
Last Updated: 5/14/2024

Overview / Comments

Outstanding 7-townhome style building in West Louisville, featuring 2 bedrooms and 1 bathroom in each unit. Fully occupied, generating $77,580 in annual rents (rent roll attached) with a Net Operating Income (NOI) of $54,864 over the past 12 months (T-16 attached). The current owner efficiently self-manages the property. Each unit has separate meters for water and utilities, with tenants covering all utility costs. This low-maintenance building has been updated by the owner. An inspection report is available upon request, and many items have been repaired. Photos and videos are available for viewing. Tours are only available after an accepted contract to avoid disturbing tenants. Units can potentially be converted into condos and sold individually post-acquisition.

Financials

Finance Data Year 2024
Real Estate Taxes - Annual($) $5,000 (Annual)
Potential Rental Income $77,580 (Annual)
Net Operating Income $54,864 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Zoning: U-N - Urban Neighborhood District
Percent Occupied: 100%
Property Located Between: Bank St and N 31 St
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1953
Year Renovated: 2023
Parking Description: Street parking
Laundry: In Each Unit
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas, Electric
Air Conditioning: Other
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,428 104,418 238,084
Median Age: 35.78 36.35 36.73
Households: 5,275 43,788 102,065

Contact

Photograph of Listing Agent

Jonathan D Klunk

EXP Realty LLC KCREA Member
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