Value Add Eight Unit Multifamily Property

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30859777
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 8 Units
Building Size (RSF): 6,790 SF
Gross Building Area: See Agent
Sale Price: $360,000
Unit Price: $45,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/30/2023

Overview / Comments

This eight 2BR/1BA unit property is located in a high rental-demand area of South Louisville. The building was recently damaged by a fire, and is currently totally vacant. There is varying amount of work needed in each unit to make them rent-ready, with some requiring a lighter amount of repairs and some requiring full rebuilds.

Once the improvements are complete, an investor should have the opportunity to re-lease the property at mid to high $900's/mo rent.

Highlights include:

> Eight 2BR/1BA units
> Washer/Dryer hookups
> Separately metered for LGE
> Ample off-street parking
> Opportunity to add-value to a totally vacant, fire-damaged property

Seller will separate the deed for 2512 Pennacook from 2518 Pennacook. They are currently on one water meter that will also need to be separated.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 102700740000
Zoning: C-1 - Commercial District
In Flood Plain?: Yes

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,601 109,472 212,596
Median Age: 37.74 37.28 37.04
Households: 3,886 44,535 85,924
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