MULTI_FAMILY - Louisville, KY
Over $8,000/mo (nearly 11% CAP rate) in gross rental potential with this versatile duplex/triplex/quadplex or even SFR combo in the heart of NULU. With OR2 zoning, a 625sqft fully-soundproofed studio, and a completely customizable floorplan, 902 E Jefferson is easily poised to cashflow >$2,000/mo or more at current mortgage rates with tremendous future increase possible, as the area continues to boom. This beautiful building is located just one block south of everything that E Market street has grown to become, and directly across from what is planned to be a boutique hotel, making it the ideal location for a storefront, office space, residential rental, or hybrid. STR is also a possibility with its current 4-unit configuration, with intermediate-term (1month or more) rentals such as Furnished Finder possible with no special permitting required on day 1, while the STR application process...
Over $8,000/mo (nearly 11% CAP rate) in gross rental potential with this versatile duplex/triplex/quadplex or even SFR combo in the heart of NULU. With OR2 zoning, a 625sqft fully-soundproofed studio, and a completely customizable floorplan, 902 E Jefferson is easily poised to cashflow >$2,000/mo or more at current mortgage rates with tremendous future increase possible, as the area continues to boom. This beautiful building is located just one block south of everything that E Market street has grown to become, and directly across from what is planned to be a boutique hotel, making it the ideal location for a storefront, office space, residential rental, or hybrid. STR is also a possibility with its current 4-unit configuration, with intermediate-term (1month or more) rentals such as Furnished Finder possible with no special permitting required on day 1, while the STR application process is being processed. Multiple entrances across the 1st and 2nd levels help transform the home a variety of possible uses, while separate meters and HVAC units across its numerous levels add to the flexibility. Commercial lease spaces in the area currently yield ~30/sfa for 1st floor units, and $20-$25/sfa for 2nd & 3rd floors, while residential leases range from $1300-$3800/mo for 1-, 2-, or 3- bedroom units. With 1780sqft on the ground floor, and another 2400 across the 2nd and 3rd levels, this 4188sqft home can be divided however you choose to maximize both profitability and functionality. For more information on how to unlock the potential of this rare investment opportunity, please give me a call today to schedule your own private showing!
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