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Fully Leased 10-Unit Multifamily 1481 S 2nd St 10 Unit Apartment Building $850,000 ($85,000/Unit) 9% Cap Rate Louisville, KY 40208
EXECUTIVE SUMMARY
This 10-unit multifamily property is located within a 4-mile radius of four colleges and universities, making it a highly sought-after investment due to the strong demand for student housing. Meticulously renovated and maintained by the current owners over the past 20 years, it features 7,355 SF of finished living space, along with an additional 2,000 SF of unfinished basement, offering extra storage space.
This is a turn-key investment, ideal for both first-time investors and seasoned professionals looking to expand their portfolio. The current owners are open to staying on to manage the property, ensuring a smooth transition and continued high occupancy. With its prime location, recent upgrades, and established management, this is an opportunity to generate immediate cash flow with minimal hassle.
This is a turn-key investment, ideal for both first-time investors and seasoned professionals looking to expand their portfolio. The current owners are open to staying on to manage the property, ensuring a smooth transition and continued high occupancy. With its prime location, recent upgrades, and established management, this is an opportunity to generate immediate cash flow with minimal hassle.
PROPERTY FACTS
| Price | $850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $85,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 9% | Building Size | 8,520 SF |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1905 |
| Property Subtype | Apartment | ||
| Zoning | TNZD-TRADI | ||
| Price | $850,000 |
| Price Per Unit | $85,000 |
| Sale Type | Investment |
| Cap Rate | 9% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 8,520 SF |
| No. Stories | 3 |
| Year Built | 1905 |
| Zoning | TNZD-TRADI |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 10 | - | - |
1 1
Walk Score®
Very Walkable (78)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 033B02470000 | Improvements Assessment | $492,090 |
| Land Assessment | $90,000 | Total Assessment | $582,090 |
PROPERTY TAXES
Parcel Number
033B02470000
Land Assessment
$90,000
Improvements Assessment
$492,090
Total Assessment
$582,090
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Fully Leased 10-Unit Multifamily | 1481 S 2nd St
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