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Description

Attractive building with great curb-appeal featuring four rental units located on a beautiful stretch of tree-lined Southern Parkway! Close to the University of Louisville (excellent pipeline for renters), Churchill Downs, shopping, and dining with easy access to bus-lines. Opportunity to increase rent and net operating income in the future. Unit #1 is a two-story, 1,372 sqft apartment with hardwood floors, two bedrooms, 2 baths, and an additional dining room with a closet that could be used as a third bedroom–Currently rented by month-to-month tenant for $600/month. Unit #2 has 895 sqft of living space, shotgun-style, with one bedroom and one full bath–Currently rented to long-time, loyal tenant for $395/month. Unit #3 (vacant) is a second-floor unit with one bedroom, one full bath and 868 sqft of living space. Previously rented for $410/month. Unit #4 is a studio-style space on the third floor, 500 sqft of living space with staircase access to third floor private entrance on rear-side of building. Includes a full-bath, kitchen, closet, semi-separate living and bedroom areas. Skylight in Unit #4 allows for additional sunlight. Currently rented at $410/month. Units are each metered separately (with exception that units #1 & #4 share gas). Owner currently pays water bill for all tenants. Owner pays all utilities for unit #4. Excellent opportunity for investor! Currently managed by professional management company that is actively marketing vacant units and screening tenant applicants. One-car, detached garage that could be rented for tenant use or storage. Seller holds an active Real Estate license in the state of Alabama. Building price details: $129,000.

Property Details

• Type: Multifamily
• Status: Available
• Buildings: 1

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