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2322 W Chestnut St 5 Unit Apartment Building $579,000 ($115,800/Unit) Louisville, KY 40211
INVESTMENT HIGHLIGHTS
- -Strong rental income, with room to add value and increase rent
- -Direct access to highway and a few minutes from downtown
- -Strong tenant history, including 2 units that are extremely long-term up to 20 years
EXECUTIVE SUMMARY
This breathtaking converted church features 5 units with a total of 12 bedrooms and 8 full, 2 half bathrooms. Each unit boasts its own specific charm. Unit 1 was formerly the church’s sanctuary and capitalizes on this historic architecture. It features soaring ceilings, a loft bedroom, and is glowing with natural light. Unit 2 is a 2 bedroom that is also a part of the former sanctuary and hosts similarly grandiose ceilings.
Units 3-5 are spacious 3 bedroom/2 bath units with 10 ft ceilings! Each unit is two floors and has its own direct singular entrance from the outside of the building. This property is in a high demand rental area, with two of the tenants being extremely long-term. One has been there 20 years, and another for 30.
The units offer excellent opportunities for rent increases or value-add improvements while still maintaining solid cash flow. This property also offer a a parking lot in the front of the building, adding to its allure.
Potential investors are in a perfect position to maintain rents and generate great cashflow from day one, or add value and increase rents considerably. Contact us today to learn more or schedule a tour. Let’s make your investment goals a reality!
l
Units 3-5 are spacious 3 bedroom/2 bath units with 10 ft ceilings! Each unit is two floors and has its own direct singular entrance from the outside of the building. This property is in a high demand rental area, with two of the tenants being extremely long-term. One has been there 20 years, and another for 30.
The units offer excellent opportunities for rent increases or value-add improvements while still maintaining solid cash flow. This property also offer a a parking lot in the front of the building, adding to its allure.
Potential investors are in a perfect position to maintain rents and generate great cashflow from day one, or add value and increase rents considerably. Contact us today to learn more or schedule a tour. Let’s make your investment goals a reality!
l
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $579,000 | Building Class | C |
| Price Per Unit | $115,800 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 6,176 SF |
| Gross Rent Multiplier | 9.36 | No. Stories | 1 |
| No. Units | 5 | Year Built | 1880 |
| Property Type | Multifamily | Parking Ratio | 0.97/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R6-RESIDEN - Commercial | ||
| Price | $579,000 |
| Price Per Unit | $115,800 |
| Sale Type | Investment |
| Gross Rent Multiplier | 9.36 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 6,176 SF |
| No. Stories | 1 |
| Year Built | 1880 |
| Parking Ratio | 0.97/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R6-RESIDEN - Commercial |
AMENITIES
UNIT AMENITIES
- Washer/Dryer Hookup
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 3 | $1,064 | 1,440 - 1,498 |
| 2+1 | 1 | $1,100 | 1,132 |
| 1+1 | 1 | $925.00 | 950 |
1 1
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (78)
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2322 W Chestnut St
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