Video/Pictures – Fully Occupied 18-Unit Brick Multi-Family in Louisville, KY, 40216

Description

We are thrilled to present a unique investment opportunity in the heart of 40216 in Jefferson County, Kentucky. The property encompasses 18 units in total. Each unit features a 2-bedroom, 1-bathroom layout, with several units recently updated with new flooring or gas furnaces.

Highlights of This Investment:

Asking Price: $1,497,000
Current Gross Monthly Rent: $13,778
Fully Occupied: Ensuring a stable and continuous income stream.
Gross Monthly Expenses: $2,692.29, including utilities for select units covered by the owner.
Net Operating Income (NOI): A robust $133,028.52 annually, promising a healthy return on investment.
Gross Rent Multiplier (GRM): Approximately 9.05, indicating a competitive market value.
Cap Rate: An attractive 8.88%, showcasing the property’s potential for high returns.
This property stands out not only for its stable occupancy rate and attractive returns but also for its blend of subsidized and market-rent units, ensuring diversified income sources. Despite not having washer/dryer hookups, the property’s recent upgrades and the owner’s commitment to covering certain utilities have maintained its appeal to tenants.

We invite you to explore this remarkable investment opportunity further. For more information or to schedule a viewing, please contact us. Seize the chance to add this gem to your portfolio and capitalize on Louisville’s growing rental market.