13 Beds
6 Baths
7,064 SqFt
13 Beds
6 Baths
7,064 SqFt
Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,064 sqft
Price per Sqft $120
Subdivision Cherokee Triangle
MLS Listing ID 1693778
Style Traditional
Bedrooms 13
HOA Y/N No
Abv Grd Liv Area 5,160
Year Built 1920
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Apartment
Source Metro Search (Greater Louisville Association of REALTORS®)
Land Area 5160
Property Description
A rare find in the heart of Cherokee Triangle, this solid brick boarding house offers an exceptional investment opportunity in one of Louisville's most desirable and walkable neighborhoods. With 18 bedrooms, 4 full baths, and 3 half baths, this property stands out for its size, location, and unique income potential.
What makes this opportunity truly special is its hard-to-come-by non-conforming use status, allowing for room-by-room rentals—an advantage that's nearly impossible to replicate today. With estimated rents of $1,000 per room per month, the property has the potential to generate $216,000 in gross annual income and deliver a projected cap rate of over 12%.
The building features shared kitchens and bath rooms, with several rooms offering private bath access. It's equipped with four HVAC units, providing reliable comfort throughout, and recent upgrades include a 2016 roof replacement and a $32,000 plumbing update in 2023, replacing lead lines with modern systems. The property has been well cared for and is offered in AS-IS condition.
Just steps from Bardstown Road's restaurants, coffee shops, nightlife, and boutiquesand minutes from the scenic trails and golf course at Cherokee Parkthis location is as strong as the numbers.
Altogether, the home offers 7,064 square feet of finished living space, including 5,160 above grade and 1,904 below grade. There's an additional 476 square feet of unfinished basement space, plus a 183-square-foot screened porch.
Brick construction, prime zoning, and serious cash flow potentialopportunities like this in the Triangle are few and far between.
Location
State KY
County Jefferson
Direction Grinstead Drive to Everrett to Street
Interior
Heating Forced Air, Natural Gas
Cooling Central Air, Wall/Window Unit(s)
Exterior
Exterior Feature Handic Prov, Balcony
View Y/N No
Roof Type Asphalt,Shingle
Porch Screened Porch, Patio
Garage No
Building
Lot Description Near Golf Course, Sidewalk
Sewer Public Sewer
Water Public
Architectural Style Traditional
Structure Type Brick
