Flexible Potential Multifamily Asset in Great J-Town Location

Multi-Family for Sale
Catylist Listing ID: 30250590
Property Subtypes: Duplex/Fourplex, Mixed Use, Senior Living, Other
Number of Units: 3 Units
Building Size (RSF): 3,150 SF
Gross Building Area: See Agent
Gross Land Area: 0.47 Acres
Sale Price: $289,000
Unit Price: $96,333.33 Per Unit
Property Use Type: Investment, Vacant/Owner-User
Usable Size (USF): 3,150 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/21/2018

Overview / Comments

Potential multifamily investment opportunity in J-Town which could be built out to consist of between 3 to 6 apartment units. The asset has been utilized as a mixed use property for the past 30 years, which currently consists of two floors of frontal retail space and one apartment (both currently vacant). When the current owner purchased this asset, it was set up as a triplex. This property has a multitude of future use options including complete retail, office and could additionally be considered as a single family flip opportunity. Consisting of nearly half an acre, there could be potential for additional building behind the existing structure. This deal presents outstanding potential in a great location.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Tax ID/APN: 004504360000
Zoning: C-N - Neighborhood Commercial District
Percent Occupied: 0%
Property Located Between: Jefferson and Barkley
Highway Access: I-264, I-64
Airports: Louisville International Airport
Site Description: Located directly on Taylorsville Road in the heart of high-growth J-Town location.
Total Number of Buildings: 1
Property Condition: Fair
Number of Stories: 2
Year Built: 1880
Year Renovated: 1995
Roof Type: Arched
Construction/Siding: Wood Siding
Exterior Description: Additional land sprawling towards rear of property available for more potential.
Parking Ratio: 10 (per 1000 SF)
Parking Type: Surface
Parking Description: 10 rear parking spaces in rear of property.
Total Parking Spaces: 10
Heat Type: Electricity
Heat Source: Central
Fuel: Gas
Air Conditioning: Engineered System
Interior Description: The property is currently set up as one retail space (two floors) and one 1BR apartment. It will need to be renovated to be utilized as a multifamily property.
Zoning Description: Commercial Zoning District. Allows for Multifamily, Mixed Use, Office or Retail.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,843 82,599 216,188
Median Age: 36.89 39.83 39.8
Households: 5,218 33,722 92,162
The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.