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$ 1,556,000
Est. payment | /mo
7,722 SqFt
$ 1,556,000
Est. payment | /mo
7,722 SqFt
Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,722 sqft
Price per Sqft $201
MLS Listing ID 1713484
Style Contemporary
HOA Y/N No
Abv Grd Liv Area 7,722
Year Built 1960
Property Sub-Type Apartment
Source APEX MLS (Greater Louisville Association of REALTORS®)
Land Area 7722
Property Description
Located in the historic Cherokee Triangle, this 14-unit property is a rare generational offering. Purpose-built as apartments—an uncommon feature in this submarket—it consists of fourteen 1BR/1BA units with rents well below the sub-market averages. It is just steps from Louisville's most walkable corridors, with convenient access to shopping, dining, and services. Held by the same ownership for decades, the property has benefited from consistent professional management. Units feature forced air heating and central air, with tenants responsible for gas and electric, helping to control operating expenses. Additional savings are achieved through a water and trash recapture program. While current unit conditions meet market demand, there is an opportunity for a new owner to implement upgrades and drive further rent growth. The property has been well maintained with no significant deferred maintenance, and a full electrical panel upgrade was completed in 2023. Opportunities like this are rare, offering stable cash flow and long-term appreciation driven by strong underlying real estate fundamentals.
Location
State KY
County Jefferson
Direction Off Bardstown Rd.
Interior
Heating Forced Air
Exterior
Exterior Feature Balcony
View Y/N No
Roof Type Shingle
Garage No
Building
Architectural Style Contemporary
Structure Type Brick
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Nearby Locations
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1991 Crocker Rd, Suite 600, Westlake, Ohio, 44145, United States