1601, 3, 5 Algonquin
Louisville, KY 40210

Description

There are 3 two-story 4-plexes for sale at numbers 1601, 1603 and 1605 Algonquin Pkwy. ALL 3 SOLD TOGETHER. The price for the 12-plex is $600,000. Each building is 2,900 sq ft. Each 1 bedroom apartment is 725 sq ft, large for this price range and in good condition which is one of the reasons they remain almost 100% occupied. Owner has spent and continues to spend considerable effort and money to bring these apartments to their excellent condition. 2015 upgrades include all gutters repaired or replaced As part of the improvement program rents are being raised. Current rents are either $475 or $500. All rents will be raised to $600 when new windows are installed. New sewer lines were installed for all 3 buildings some years ago, from buildings to street. All bathrooms have ceramic tile. Some kitchens have ceramic tile, others linoleum. Each building has a full basement and is equipped with coin operated washer and dryer for the tenants. This is an additional revenue stream. All apartments have been painted with good quality paint. Every single room has a ceiling fan, helping tenants keep their utility bills down. Convective central heat. Located at a high visibility intersection of Algonquin Parkway and S 16th Street, Louisville, Kentucky. Close to shops and on the bus line. This is a popular rental area, with a mix of residential homes, apartments and commercial establishments. THESE 3 FOUR-PLEXES ARE SOLD TOGETHER FOR $600,000. NOT SOLD SEPARATELY.

Details

MLS#1499333
Sub-TypeResale
StatusActive
Year1955
Days On Site84

Features

SQ Feet8,700
Units12
Building(s)1

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Area Information

StateKY
CountyJefferson
CityLouisville
Zip Code40210
Listing VS Median (in 40210)
Price:
$565,000
low | high
Med:
$32,950
100% of Average
SqFt:
8,700
low | high
Med:
976
100% of Average
$ / SqFt:
$65
low | high
Med:
$35
95.829849752851% of Average
On Site:
84
low | high
Med:
140
60% of Average
Listing Updated: 06/21/2018
MLS Number: 1499333
Listing Provided By:
Neil Blumberg  of  Metro 1