The Chesser Companies is pleased to present this well maintained and comprehensively renovated 9 unit multifamily opportunity with investment upside ideally located in beautiful and trending Southern Parkway setting. This Beechmont located multifamily asset is comprised of 3 structures and 7 apartment units, 1 single family home, and a 3 car garage, comprised of 9 revenue centers and 100% occupied. This property has been expansively renovated throughout, and positioned for cash flow growth and continued value upside. This opportunity is flexibly and uniquely positioned for a value investor or even an owner occupant to capture residual income with a high quality single family home on site. Broker has an ownership interest in this property.Located in huge growth location of Beechmont, nearby Iroquois part of forested hillsides and breathtaking vistas. The park features the popular Iroquois Amphitheater, an open-air theater that accommodates 2,366 people. Additionally, Colonial Gardens, a substantial mixed use entertainment and dining development, is slated to officially open in late summer 2019. This highly anticipated development features wildly popular eateries such as Taco Luchador, Union 15 (new concept pizza parlour and taproom) and others. With proximity to all of these powerful growth trends, this asset is positioned to benefit tremendously for years to come with high resident and investment demand. -Value Add Potential At least 50% of the units at this property are currently operating slightly below market rent, which presents an immediate opportunity to enhance top line revenue with minimal additional capital investment. Further to this, a water re-capture model has been demonstrated with 4 recent leases including $25/mo paid by tenants, which could be expanded throughout all units. -Renovated Maintained Existing Units with Healthy Revenue Existing units are four one 1BR/1BA comprising of an average of 850 SF, one 2BR/1BA 650 SF, two 1BR/1BA units comprising of an average of 600 SF, and one 3BR/1BA Single Family Home comprised of 1,300 SF, with a separately constructed and revenue producing 3 car garage comprised of about 400 SF. On average, the apartments currently rent for $645/unit ($.88/SF) and market rent is estimate to be $725/unit ($1.03/SF). An attractive component to this is the minimal requirement for renovation as a tremendous amount of the heavy lifting has been completed, including complete interior renovations throughout 7 of the 8 dwelling units (cosmetics, mechanicals and fixtures) and rehab to all common areas, new roofs on all structures, brand new rear deck installed 2019, significant electrical and plumbing uprades throughout, some new windows, painting, and meticulous landscaping. Range unit size: 600 SF - 1,300 SF Unit Mix: 3BR/1BA, 2BR/1BA, 1BR/1BA, Garage Parking: 8 Spaces Laundry: Half of the Units Have Hookups in Units Please contact the broker for more information on this investment opportunity. *The broker has an ownership interest in this property.
Dtown/Old Louisville/Shively/West Lou
Fuel:Natural, City Sewer, City Water
More about 4315 Southern
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Listing information last updated on October 19th, 2019 at 8:30pm EDT.