215 E Ormsby Ave, Louisville, KY 40203

Property Description

Attention Investors. Wonderfully updated 8-unit apartment building in Historic Old Louisville situated on a 56' X 215' lot that offers 10-12 off street paved parking spaces. This 6200+ Sq. Ft. 2-story structure was built in 1993 and offers 4 two-bedroom, 1 bath units w/approximately 711 Sq. Ft. and 4 three-bedroom, 1 bath units w/approximately 855 Sq. Ft. Vinyl exterior for low maintenance costs along with 9-year-old main dimensional roof with lifetime warranty. The condensing units to the HVAC units were all replaced in 2011 also. Thermopane windows help with efficiency. The 2 BR units offer 3 closets and the 3 BR units have 5 closets. All but one unit (#2) has been renovated and offer updated kitchens with laminate counters, vinyl flooring, electric ranges, vent hoods, dishwasher and refrigerators. Bathrooms have tub/shower surrounds and single vanities. Rents & deposits vary and can be seen on attached rent roll. Market value rents for the area are approximately $750+ for 2 bedrooms and $950+ for 3 bedrooms, so there is room to increase the profit margin. The owner of the building pays common L. G & E. of approximately $40 per month and Louisville Water & Metropolitan Sewer District which average $331 every other month. Trash is provided by Metro Solid Waste and is part of the property taxes.