Four-plex Apartments for Sale

Multi-Family for Sale
Catylist Listing ID: 30458320
Property Subtypes: Duplex/Fourplex
Number of Units: 8 Units
Building Size (RSF): 6,800 SF
Gross Building Area: See Agent
Sale Price: $415,000
Unit Price: $51,875 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 9.7%
Average Occupancy Rate: 90
Last Updated: 7/13/2019

Overview / Comments

Most of the units have been renovated with updated kitchens and hardwood and ceramic flooring. Tenants have been there long enough that they are all now month to month. Most of the rents are below current market, so a new owner could either get new leases on the current tenants, or new renters at market value. Cap rate is based on average rent of $525 per month. Market rent is currently about $600 per month, so lots of upside potential. Units are all two bedroom, 1 bath and each have their own laundry hookups. 3017 Melody Acres includes a large exterior shed next to it for storage. Off street parking on the sides of both building.

Attachments & Media

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 126300790014
Zoning: R-6 - Residential Multi-Family District
Percent Occupied: 875%
Property Located Between: Off of Cane Run Road near Rockford Lane
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 2
Year Built: 1969
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Parking on each side with long spaces available allowing 2 spots per unit.
Laundry: In Each Unit
Heat Type: Natural Gas

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,147 72,344 206,045
Median Age: 36.53 38.36 36.68
Households: 3,930 29,598 84,209

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