Property Description:
ONLINE ONLY AUCTION! Bidding is open and will end on August 11, 2020 4pm at www.bidkentucky.com
This great investment property is super easy to keep fully rented as it is located on what is know as Millionaires Row in Historic & Sought-after Old Louisville. Originally built as a single-family home in the late Circa 1890's and was likely converted to sleeping rooms or apartments in the late 1940's or early 1950's to create income during the war. The 30' X 103' lot (per Lojic map) is on the smaller side which means less yard work for the investor. The main structure offers approximately 4236 Sq. Ft. above grade with an additional 1404 Sq. Ft. in the lower level. The basement currently has 2 sets of washers & dryers that are used by this building along with the tenants of 1441 S 3rd that is owned by the same investor. The property is heated by forced air gas furnace and cooled with landlord provided window air conditioners. Kitchens have ranges and refrigerators. All utilities are included in the rent (except for cable TV but hook-ups are in place for them). There are a total of 6 units in this building consisting of 1 Efficiency on the 1st floor, a studio on the 2nd floor and four additional 1 bedroom units (1 on the 1st floor, 1 on the 2nd floor and 2 on the 3rd floor). The rents range from $450 - $740 per unit (please see attached rent roll for more information, leases, etc. The total monthly rents generate $3690 with monthly expenses of water / sewer, LG&E, taxes and property insurance of approximately $1657 per month which creates a net monthly income of $2033. (See attached rent roll for breakdowns).
3d-marketing.captur3d.io/view/re-max-100/1443-s-3rd-st
Open House: Wednesday, August 5, 12-2pm.
We are not allowing any showings prior to the open house, therefore we have changed any pre-auction offers to August 6th.
Go to Bidkentucky.com for Bidding, rents, 3D Virtual Tour and terms and conditions. Also up for auction is 1443 S. 3rd Street, Louisville, KY - 6 Units.