427 Park Ave, Louisville, KY 40208

Property Description

Great multi-family investment opportunity in historic Old Louisville across from Central Park! Beautiful architectural details throughout this six unit complex in the heart of Old Louisville, close to University of Louisville and downtown. Updates and upgrades include completely renovated carriage house and unit 6, newer water heater, two-year old roof on carriage house and extensive repair of the main sewer line with an epoxy coating, which will last decades. One lane shared driveway, garage, which serves as storage space and lovely back patio between the main house and carriage house. Rent brings $5,255 monthly and all units are occupied. Owner pays utilities. Unit 1 in the main house is a large 3-bedroom, 2-bath townhouse style unit with bright living room with hardwood flooring, formal dining room and sunroom facing Central Park, laundry and central air conditioning in unit. Two bedrooms are on first floor and one is on second floor. Currently rented for $1,480 per month. Unit 2 is a 1-bedroom townhouse style unit with kitchenette, also in the main house. Currently rented for $500 per month. Unit 3 is a 1-bedroom, 1-bath carriage house in the back is completely remodeled with new kitchen, bath, living area and HVAC. A new roof was installed May 2019. Currently rented for $925 per month. Unit 4 is a 2-bedroom, 1-bath unit on the second floor of the main house, which features a living room, formal dining room and sunroom leading to a charming Juliette balcony overlooking Central Park and small back deck. Currently rented for $1,075. Unit 5 is a studio apartment on the third floor of the main house with one bath and kitchenette. Currently rented for $425 per month. Unit 6, also on the third floor of the main house is a 1-bedroom, 1-bath bright unit with large living room with updated flooring, kitchen and bath. It also features a large rooftop deck overlooking Central Park. Currently rented for $850 per month.