Historic Portland building zoned EZ-1 with OZ potential!

Multi-Family for Sale
Catylist Listing ID: 30873040
Property Subtypes: Duplex/Fourplex, Mixed Use, Student Housing, Other
Number of Units: 2 Units
Building Size (RSF): 2,006 SF
Gross Building Area: See Agent
Gross Land Area: 0.03 Acres
Sale Price: $95,000
Unit Price: $47,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/14/2024

Overview / Comments

Step into history with 1500 Bank Street, a remarkable property in the heart of Louisville that dates back to 1880, as per county records. This property stands as a beacon of the area's rich historical tapestry and offers an exceptional canvas for those looking to imprint their vision on a piece of Louisville's heritage.

This distinctive building is not just a home but a piece of art. It features a unique mural encircling all of its exterior brick walls, adding a vibrant and artistic flair that captures the eye and ignites the imagination. The mural, combined with the architectural integrity of the era, makes this property a landmark in its neighborhood.

While the exterior exudes historical charm, the interior of 1500 Bank Street presents a raw shell that awaits transformation. Potential buyers should enter with caution and see this as an opportunity to restore and remodel a significant space into a personalized masterpiece. This flexibility makes it an ideal project for preservationists or those dreaming of designing a space that truly reflects their style while honoring its historical significance.

Located just off the historic 15th Street, the property is part of an area known for its pivotal role in Louisville’s industrial expansion during the 19th century. This street helped shape Louisville into a key urban hub, rich in cultural and economic diversity. The neighborhood retains its historical charm while enjoying the benefits of modern revitalization, making it a sought-after location for both residents and investors.

Owning 1500 Bank Street is not only an investment in real estate but an investment in a piece of Louisville's storied past. It’s perfect for those who are passionate about history and eager to contribute to the narrative of one of Louisville's most historic neighborhoods.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 015A00720000
Zoning: EZ-1 - Enterprise Zone District
Property Located Between: 15th and Bank Street
Highway Access: I-64, exit onto Roy Wilkins Ave, turn right onto West Jefferson St. Right onto South 15th Street, Left onto Rowan St. Right onto Bank
Airports: SDF
Site Description: V-shaped lot, with off-street parking only. Parking behind the building is not a part of this parcel.
Area Description: This property is in the middle of a warehouse corridor, and right around the corner from Painter's Row.
Total Number of Buildings: 1
Property Condition: Poor
Number of Stories: 3
Year Built: 1880
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: All brick with a wraparound mural, and unique bumpout on the north facing wall.
Interior Description: Empty shell with a stairwell to the 2nd and 3rd floor. Main floor has no covering, so the basement is 90% exposed.
Zoning Description: EZ-1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,146 130,044 282,192
Median Age: 30.88 35.07 36.81
Households: 5,984 55,237 121,949


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