4329 S 2nd St 10 Unit Apartment Building $699,999 ($70,000/Unit) 7.30% Cap Rate Louisville, KY 40214
INVESTMENT HIGHLIGHTS
- Value Add Opportunity
- 90% Occupancy
- Below Market rents
EXECUTIVE SUMMARY
Exceptional Value-Add opportunity in Louisville consisting of Two 5-unit buildings adjacent to each other. Each building is 2,300SF (4,600SF in total), built in 1960, boasting a total of 10 units and is zoned R6-RESIDEN. With a 90% occupancy rate, this property offers immediate income potential and room for growth. The low-rise/garden style of the building provides a desirable living environment for tenants while offering a lucrative opportunity for a savvy investor. Don't miss the chance to add this promising property to your portfolio and capitalize on the upside upon stabilization of these buildings.
PROPERTY FACTS
| Price | $699,999 |
| Price Per Unit | $70,000 |
| Sale Type | Investment |
| Cap Rate | 7.30% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.66 AC |
| Building Size | 6,900 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 0.87/1,000 SF |
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
1 of 1
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 055K00020000 | Improvements Assessment | $210,000 |
| Land Assessment | $15,000 | Total Assessment | $225,000 |
ZONING
| Zoning Code | R6 (Residential) |
