2047 Alta Ave, Louisville, KY 40205

Property Description

Active - Contract Pending Wow! What a property! Located 3 blocks from the bustling heart of Bardstown Road West and three blocks from iconic Cherokee Park, it's more than just a great modernized Victorian in the best neighborhood in Louisville. Investors, owners, don't miss this rare opportunity to own a profitable rental and Airbnb in the heart of the Highlands, Louisville's most desirable neighborhood. Over $130,000 in major modernization upgrades were made to this historic chromatic duplex in the past two years. You'll have pride of ownership with this gorgeous, historic, turn of the century three story Victorian in Louisville's most heralded neighborhood—the Highlands. 2047 Alta is not just an updated, renovated and modernized Victorian but al lifestyle in a highly sought-after neighborhood location with soaring values. This amazingly productive rental home in its present use is generating amazing cash flows. The monthly rent for unit #2 on the second and third floors is $2,350 and unit #1 generated $3,650 as an Airbnb in June with similar income in March, April and May this year. That results in a total of $6,000 a month when the owner is out of town on work assignments and vacations. An investor traveling to Louisville can reside in unit #1 and continue managing 2047 Alta as an Airbnb when they are out of town. The home is currently a duplex with two updated kitchens. Perfect for an owner occupant who wants rental income or needs room for an extended family living arrangement. The owner's unit on the first floor has two bedrooms and a family room that includes a kitchen. A second bedroom includes a unique and handsome Murphy bed and a delightful full bath. Unit #2 is located on the second and third floors and includes a living room, dining room, kitchen, a deck off the kitchen, two bedrooms and full bath on the second floor, and two bedrooms, a new full bath, and laundry on the third floor. This unit is rented for $2,350 per month. Great potential for single family conversion on a street with million-dollar homes. The ground floor unit is presently used and sometimes occupied as an Airbnb. Our first showings will be limited and will begin Wednesday, July 6th, from 4 to 7 pm. Please schedule showings through Showing Time. It's very selective in terms of showing times. The front of the house has been freshly painted with chromatic colors and the home's comfortable covered porch with swing is perfect for people watching. Another feature of this home is energy savings, averaging nearly half the cost of your normal Victorian of this size. The most recent bills were $72 for unit #1 and $167 for unit #2. New updated energy efficient units and new thermal windows have been selectively added. This home was designed by award-winning Professor John Hans Gilderbloom, who has received numerous national, state, and local design awards, was featured in the Sunday New York Times (http://www.sunlouisville.org) and wrote the popular book Chromatic Homes: The Joy of Color in Historic Homes. The Highlands is a "weird", independent, fun, quirky, historic, and one-of-a kind neighborhood that is walkable and bikeable. It includes a variety of restaurants, places of worship, and live music, and is diverse, tolerant, and a dog walker's paradise. Walk to Cherokee Park in just a few minutes or the lively eclectic Bardstown Road restaurant, retail, and coffee shop scene just steps away. It's just a short commute time to downtown work or museums and colleges. Whether it is Fodor's or USA Today, the Highlands is ranked as one of the best urban neighborhoods in the nation right up there with Greenwich Village in New York or Haight Ashbury in San Francisco. The Highlands includes the most painted ladies, ranking fourth behind San Francisco, New Orleans, and Miami Beach. But you don't have to pay millions of dollars to live in this historic Victorian of craftsmanship, pride, and value. Make 2047 Alta Ave your home and enjoy the Highlands lifestyle. There is alley access at the rear of the home so off-street parking is abundantly available or get creative and add a Carriage House apartment or a garage as an easy addition to this amazing property. Enjoy the beautiful outdoors in your partially fenced backyard where there is room enough for badminton, croquet, volleyball or entertaining. There are a few caveats with this property: in its present use as an Airbnb, the furniture, paintings and fixtures in the home are not necessarily included but are negotiable. Unit #2 currently has a two-year lease. As the owner's three previous Victorian homes sold recently, all above the asking price and sold within days, the crown jewel of Alta will not last long at the asking price of $599,995