Brad Hilton - Coldwell Banker McMahan
1601, 3, 5 Algonquin
Louisville, KY 40210

Description

PRICE REDUCTION!! There are 3 two-story 4-plexes for sale at numbers 1601, 1603 and 1605 Algonquin Pkwy. ALL 3 SOLD TOGETHER. The price for the 12-plex is $495,000. Each building is 2,900 sq ft. Each 1 bedroom apartment is 725 sq ft, large for this price range and in good condition which is one of the reasons they remain almost 100% occupied. Owner has spent and continues to spend considerable effort and money to bring these apartments to their excellent condition. As part of the improvement program rents are being raised. Current rents are either $475 or $500. As of March 2018 Seller introduced RUBS water recapture. Each tenant now pays, in addition to the rent between $25-$60 per month to landlord for water usage. New sewer lines were installed for all 3 buildings some years ago, from buildings to street. All bathrooms have ceramic tile. Some kitchens have ceramic tile, others linoleum. Each building has a full basement and now has the hookups and electric upgrade necessary to handle coin operated washers and dryers for the tenants. This would be an additional revenue stream for new buyer. All apartments have been painted with good quality paint. Every single room has a ceiling fan, helping tenants keep their utility bills down. Convection heat to each unit. Located at a high visibility intersection of Algonquin Parkway and S 16th Street, Louisville, Kentucky. Close to shops and on the bus line. This is a popular rental area, with a mix of residential homes, apartments and commercial establishments. THESE 3 FOUR-PLEXES ARE SOLD TOGETHER FOR $495,000. NOT SOLD SEPARATELY.

Details

MLS#1499333
Sub-TypeResale
StatusContingent
Year1955
Days On Site142

Features

SQ Feet8,700
Units12
Building(s)1

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Area Information

StateKY
CountyJefferson
CityLouisville
Zip Code40210
Listing VS Median (in 40210)
Price:
$495,000
low | high
Med:
$35,000
100% of Average
SqFt:
8,700
low | high
Med:
1,248
100% of Average
$ / SqFt:
$57
low | high
Med:
$28
100% of Average
On Site:
142
low | high
Med:
135
100% of Average
Listing Updated: 08/19/2018
MLS Number: 1499333
Listing Provided By:
Neil Blumberg  of  Metro 1