1614 S 3rd St, Louisville, KY 40208
Great income-maker, with an opportunity for an OWNER-OCCUPIED unit on first floor! This brick 4-plex in historic OLD LOUISVILLE is just 1 to 3 blocks from UofL's main campus, duPont Manual High School and Noe Middle School and is in a terrific location for rent potential and steady occupancy. Current rent roll is $1,965/mo, with 2 leases ending in 2021, one in the fall 2020, and unit 1 unrented (historic rate for unit 1 is $1,200 to 1,300/mo)...which makes $3,165+/mo when fully rented. Unit 1 is the largest, with 3 BR, 1 Ba, W/D hookups, private fenced area in backyard with a shed, deck and hot tub (currently not functional, conveyed as-is). Unit 2 and Unit 4 are both 2 BR/1Ba. Unit 3 is 1 BR/1Ba. There is off street parking for 5 cars on the back of the building. Seller has updated electric, HVAC and some windows since 2014. New paint, some new appliances, some new portable AC units, some flooring more recently. $10K sewer line installed within last two years. Unit 1 is unoccupied and being painted and repaired; should be complete within 2 or 3 weeks according to property manager. Square footage was taken from PVA to limit the amount of time strangers are in rented units, thus it is approximate--note that some non-conforming square footage automatically exists anywhere sloped ceiling heights are below 5 feet. Per tenants rights, at least 48-hour notice is required to show any/all occupied units.